Problem 10-4A (Part Level Submission) Oriole Company sold $5,800,000, 14%, 15-year bonds on January 1, 2019. The bonds were dated January 1, 2019, and paid interest on January 1. The bonds were sold at 97. (a) Your answer is correct. Prepare the journal entry to record the issuance of the bonds on January 1, 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2019 Cash 5626000 Discount on Bonds Payable 174000 Bonds Payable 5800000 At December 31, 2019, $11,600 of the Discount on Bonds Payable account has been amortized. Show the balance sheet presentation of the long-term liability at December 31, 2019. (Enter account name only and do not provide descriptive information.) Oriole Company Balance Sheet December 31, 2019 Long-term Liabilities Bonds Payable 5800000 Less Discount on Bonds Payable 162400 5637600 On January 1, 2021, when the carrying value of the bonds was $5,688,000, the company redeemed the bonds at 105. Record the redemption of the bonds assuming that interest for the period has already been paid. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2021