Sage Co. is building a new hockey arena at a cost of $2,630,000. It received a downpayment of $520,000 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, 2019, and pay interest annually on each January 1. The bonds yield 11%. (c) Assume that on July 1, 2022, Sage Co. redeems half of the bonds at a cost of $1,122,300 plus accrued interest. Prepare the journal entry to record this redemption. (Round answers to O decimal places, eg. 38,548. 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 July 1, 2022 Interest Expense Premium on Bonds Payable Cash (To record interest) July 1, 2022 Bonds Payable Premium on Bonds Payable Loss on Redemption of Bonds cash (To record reacquisition) Your answer is correct. 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 O decimal places eg. 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 January 1, 2019 Cash Premium on Bonds Payable Bonds Payable Debit 2234245 Credit 124245 2110000 Cash Date Paid: 1/1/19 $ 1/1/20 253200 Interest Expense 245767 1/1/21 253200 244949 1/1/22 253200 244042 1/1/23 253200 243034 A F Am Prepare a bond amortization schedule up to and including January 1, 2023, using the effective interest method. (Round answers to O decimal places, eg. 38,548) Cash Paid 253200 Interest Expense 245767 Premium Amortization 7433 +A Carrying Amount of Bonds 2234245 2226812 253200 244949 8251 2218561 253200 244042 9158 2209403 253200 243034 10166 2199237