Buffalo Co$.$ is building a new hockey arena at a cost of $$2,620,000.$ It received a downpayment of $$450,000$ from local businesses to $($b$)$

Prepare a bond amortization schedule up to and including January $1,2028,$ using the effective$-$interest method. $($Round present

value factor to $5$ decimal places, e$.$g$.1\mathrm{.}24356$ and final answers to $0$ decimal places, e$.$g$.38,548.)$

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support the project, and now needs to borrow $$2,170,000$ to complete the project. It therefore decides to issue

$$2,170,000$ of $11\mathrm{.}0\%,10-$year bonds. These bonds were issued on January $1,2024,$ and pay interest annually on each January $1.$ The

bonds yield $10\%.$

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$($a$)$

Y Your answer is correct.

Prepare the journal entry to record the issuance of the bonds on January $1,2024.($Round present value factor calculations to $5$

decimal places, e$.$g$.1\mathrm{.}25124$ and the final answer to $0$ decimal places, e$.$g$.58,971.$ 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.$)$