Pearl Co. is building a new music arena at a cost of $5,753,000. It received a downpayment of $633,000 from local businesses to support the project, and now needs to borrow $5,120,000 to complete the project. It therefore decides to issue $5,120,000 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. 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.)