Oriole, Inc. had outstanding $5,950,000 of 12% bonds (interest payable July 31 and January 31) due in 10 years. On July 1, it issued $8,930,000 of 9%, 15-year bonds (interest payable July 1 and January 1) at 99. A portion of the proceeds was used to call the 12% bonds (with unamortized discount of $238,000) at 104 on August 1. Prepare the journal entries necessary to record issue of the new bonds and the refunding of the bonds. (Round answers to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 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
	(To record issuance of 9% bonds)
August 1
	(To record retirement of 12% bonds)