Riverbed Co$.$ is building a new music arena at a cost of $$5,652,000.$ It received a down payment of $$642,000$ from local businesses to

support the project, and now needs to borrow $$5,010,000$ to complete the project. It therefore decides to issue $$5,010,000$ of $7\%,20-$year bonds. These bonds were issued on January $1,2024,$ and pay interest annually on each January $1.$ The bonds yield $9\%.$

Prepare the journal entry to record the issuance of the bonds on January $1,2024.$

Prepare a bond amortization schedule up to and including January $1,2028,$ using the effective$-$interest method. $($Round answers to

$0$ decimal place, e$.$g$.38,548.)$

Assume that on July $1,2027,$ Riverbed Co$.$ retires $40\%$ of the bonds at a cost of $$1,903,000$ plus accrued interest. Prepare the

journal entry to record this retirement. $($Round answers to $0$ decimal place, e$.$g$.38,548.$ If no entry is required, select $"$No Entry" for the

account titles and enter $0$ for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent

manually. List all debit entries before credit entries.$)$

Date Account Titles and Explanation

Debit

Credit

July $1,$

$2027$

Discount on Bonds Payable

$($To record interest$)$

July $1,$

$2027$

Loss on Redemption of Bonds

$168173$

$($To record interest$)$

$($To record reacquisition$)$ Please answer the last Journal entry