Sage Co. is building a new music arena at a cost of $5,818,000. It received a downpayment of $549,000 from local businesses to support the project, and now needs to borrow $5,269,000 to complete the project. It therefore decides to issue $5,269,000 of 7%, 20% year bonds. These bonds were issued on January 1, 2019, and pay interest annually on each January 1. The bonds yield 9%. (a) 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 January 1, 2019 Account Titles and Explanation Debit Credit