Shamrock 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 $10\mathrm{.}0\%,10-$year bonds. These bonds were issued on January $1,2024,$ and pay interest annually on each January $1.$ The bonds yield $9\%.$

Assume that on July $1,2027,$ Shamrock Co$.$ redeems half of the bonds at a cost of $$1,146,600$ plus accrued interest. Prepare the journal entry to record this redemption. $($Round present value factor to $5$ decimal places, e$.$g$.1\mathrm{.}24356$ and final answers to $0$ decimal places, e$..38,548.$ 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

July $1,$

$2027$

July $1,$

$2027$

$($To record interest$)$

$$