Ivanhoe Co. is building a new music arena at a cost of $5,907,000. It received a downpayment of $606,000 from local businesses to support the project, and now needs to borrow $5,301,000 to complete the project. It therefore decides to issue $5,301,000 of 8%, 20- year bonds. These bonds were issued on January 1, 2019, and pay interest annually on each January 1. The bonds yield 10%. (a) Your answer is partially 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 O 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.)