Manchester Co. is building a new Basketball arena at a cost of $5,000,000. It received a down-payment of $ 1,000,000 from local businesses to support the project, and now needs to borrow $4,000,000 to complete the project. It therefore decides to issue $4,000,000 of 11.5%, 10-year bonds. These bonds were issued on January 1, 2014 and pay interest annually on each 1 January. The bonds yield 10%. Required: 1- Prepare the journal entry to record the issuance of the bonds on January 1, 2014. 2- Prepare a bond amortization schedule up to and including January 1, 2017 3. Assume that on July 1, 2017, Manchester Co. retires one third of the bonds at a cost of $ 1,426,564 cash. Prepare the journal entry to record this retirement