Bridgeport Co, is building a new hockey arena at a cost of $2,460,000. It received a downpayment of $500,000 from local businesses to support the project, and now needs to borrow $1.960,000 to complete the project. It therefore decides to issue $1.960.000 of 10.0%,10-year bonds. These bonds were issued on January 1,2024 , and pay interest annually on each January 1 . The bonds yield 9%. Click here to view factor table. Prepare a bond amortization schedule up to and including January 1, 2028, using the effective-interest method. (Round present volue factor to 5 decimal places, e. 1.24356 and final answers to 0 decimal places, e. . 38,548.) Assume that on July 1,2027, Bridgeport Co. redeems half of the bonds at a cost of $1,057,800 plus accrued interest. Prepare th journal entry to record this redemption. (Round present value factor to 5 decimal places, eg. 1.24356 and final answers to 0 decimal places, e.8. 38,548. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.)