(c) Assume that on July 1, 2022, Buffalo Co.redeems half of the bonds at a cost of $1,146,600 plus accrued interest. Prepare the journal entry to record this redemption. (Round answers to 0 decimal places, e.g. 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 amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation 1, Interest Expense 2022 20513 Premium on Bonds Payable Cash (To record interest) July 1, 2022 Bonds Payable Premium on Bonds Payable Loss on Redemption of Bonds Cash 1146600 (To record reacquisition) 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 support the project, and now needs to borrow $2,170,000 to complete the project. It therefore decides to issue $2,170,000 of 10%, 10-year bonds. These bonds were issued on January 1, 2019, and pay interest annually on each January 1. The bonds yield 9% (a) Your Answer Correct Answer Your answer is correct Prepare the journal entry to record the issuance of the bonds on January 1, 2019. (Round present value factor calculations to 5 decimal places, eg. 1.25124 and the final answer to decimal places eg. 58,971. If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit Date January 1 2019 Cash 2309262 Bonds Payable 2170000 Premium on Bonds Payable 139262 (b) Your swer is correct Prepare a bond amortization schedule up to and including January 1, 2023, using the effective interest method. (Round answers to decimal places, es: 38,548.) Cash Paid Interest Expense Premium Amortization Carrying Amount of Bonds Date 1/1/19 $ 0 $ 0 0 $ 2309262 1/1/20 217000 207834 9166 2300096 1/1/21 217000 207009 9991 2290105 1/1/22 217000 206110 10690 2279215 1/1/23 217000 205130 11870 2267345