Problem 14-2 Stellar Co. is building a new hockey arena at a cost of $2,560,000. It received a downpayment of $450,000 from local businesses to support the project, and now needs to borrow $2,110,000 to complete the project. It therefore decides to issue $2,110,000 of 12%, 10-year bonds. These bonds were issued on January 1, 2016, and pay interest annually on each January 1. The bonds yield 11%. Your answer is correct. Prepare the journal entry to record the issuance of the bonds on January 1, 2016. (Round present value factor calculations to 5 decimal places, e.g. 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.) Date Account Titles and Explanation Debit Credit January 1, 2016 Cash 2234264 1 Bonds Payable 2110000 Premium on Bonds Payable 124264 SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT LINK TO TEXT Your answer is partially correct. Try again. Prepare a bond amortization schedule up to and including January 1, 2020, using the effective intere Cash Paid Interest Expense Premium Amortization Carrying Amount of Bonds Date 1/1/16 253200 245769 -7431 2226833 1/1/17 244952 -8248 2218584 1/1/18 T 253200 200 244044 -9156 2209429 1/1/19 253200 243037 -10163 2199266 1/1/20 253200 241919 -11281 2187985