Problem 14-2 Sweet Co. is building a new hockey arena at a cost of $2,430,000. It received a downpayment of $490,000 from local businesses to support the project, and now needs to borrow $1,940,000 to complete the project. It therefore decides to issue $1,940,000 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 correct. are the younal entry to record the issuance of the bonds on January 1, 2016. (Round present value factor calculationso S decimal places, e.g. 1.25124 and the final answer to o 58,971. If no entry is required, select "No Entry" for the account titles and enter 0 for the January 1, 20161ash 2059213 1940000 Show All | Chapter 10 (BP).ppt ^ ^ 0