I know there is already an answer but I need to find out how they got all those numbers. There are no solutions showing how this problem was solved. Please I need help. This might be on the exam and I need to learn how they figure out the answers. Thank you.

Current Attempt in Progress Bridgeport Co. is building a new hockey arena at a cost of $2,560,000. It received a downpayment of $450,000 from local businesses to support the project, and now needs to borrow $2,110,000 to complete the project. It therefore decides to issue $2,110,000 of 12%, 10-year bonds. These bonds were issued on January 1, 2019, and pay interest annually on each January 1. The bonds yield 11%. (a) 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, e.g. 1.25124 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 amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit January 1, 2019 Cash 2,234,253 Bonds Payable 2,110,000 Premium on Bonds Payable 124,253 ) (b) Prepare a bond amortization schedule up to and including January 1, 2023, using the effective interest method. O decimal places, e.g. 38,548.) Cash Paid Interest Expense Premium Amortization Date 1/1/19 $ $ $ 1/1/20 253,200 245,767 7,433 1/1/21 253,200 244,949 8,251 1/1/22 253,200 244,042 9,158 1/1/23 253,200 243,034 10,166 (b) Prepare a bond amortization schedule up to and including January 1, 2023, using the effective interest method. (Round answers to O decimal places, e.g. 38,548.) Cash Interest Expense Premium Amortization Carrying Amount of Bonds Paid $ $ $ $ 253,200 245,767 7,433 253,200 244,949 8.251 253,200 244,042 9,158 253,200 243,034 10,166 e Textbook and Media (c) Your answer is correct. Assume that on July 1, 2022, Bridgeport Co. redeems half of the bonds at a cost of $1,110,800 plus accrued interest. Prepare the journal entry to record this redemption. (Round answers to 0 decimal places, eg. 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.) Date Account Titles and Explanation Debit Credit July 1, 2022 Interest Expense 60,759 Premium on Bonds Payable 2,541 Cash 63,300 (To record interest) July 1, 2022 Bonds Payable 1,055,000 Premium on Bonds Payable 47,174 Loss on Redemption of Bonds 8,626 Cash 1,110,800 (To record reacquisition)