Problem 14-2 Marin Co. is building a new hockey arena at a cost of $2,550,000. It received a downpayment of $450,000 from local businesses to support the project, and now needs to borrow $2,100,000 to complete the project. It therefore decides to issue $2,100,000 of 11%, 10 year bonds. These bonds were issued on January 1, 2016, and pay interest annually on each January 1. The bonds yield 10% Your answer is partial correct. Try again. Prepare the journal entry to record the issuance of the bonds on January 1, 2016. (Round present factor calculations to 5 decimal places, .g. 1.25124 and the final answer to 6 decimal places e.g. 58,971. If no entry is required, select "No Entry for the count titles and enter for the amounts, Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Tities and Explanation Debit Credit January 1, 2016 Cash Bonds Payable Premium on Bonds Payable SHOW LIST OF ACCOUNTS LINK TO TOT LINK TO TOT Prepare a bond amortization schedule up to and including January 1, 2020, using the effective intereft method. (Round answers to decimal places, 09.38.548.) Carrying Date Cash Paid Interest Expense Premium Amortization Amount of Bonds 1/1/16 1/1/17 1/1/18 1/1/19 1/1/20 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO THE