Sage Co. is building a new hockey arena at a cost of $2,620,000. It received a downpayment of $450,000 from local businesses to support the project, and now needs to borrow $2,170,000 to complete the project. It therefore decides to issue $2,170,000 of 11%, 10-year bonds. These bonds were issued on January 1, 2019, and pay interest annually on each January 1. The bonds yield 10%. Prepare the journal entry to record the issuance of the bonds on January 1, 2019. (Round present value factor calculations to 5 decimal places, eg. 1.25124 and the final answer to decimal places eg. 58,971. If no entry is required, select "No Entry for the account titles and enter 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 12 2019 e Textbook and Media List of Accounts Prepare a bond amortization schedule up to and including January 1, 2023, using the effective interest method. (Round answers to decimal places, eg. 38,548.) Cash Date Paid Interest Expense Premium Amortization Carrying Amount of Bonds 1/1/19 $ $ $ $ 1/1/20 1/1/21 1/1/22 1/1/23 e Textbook and Media List of Accounts Assume that on July 1, 2022, Sage Co, redeems half of the bonds at a cost of $1.139,500 plus accrued interest. Prepare the journal entry to record this redemption (Round answers to decimal places, es 38,548, no entry is required, select "No Entry for the account titles and enter for the amounts Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 1, 2022 (To record interest)