Splish Co$.$ is building a new hockey arena at a cost of $$2,460,000.$ It received a downpayment of $$500,000$ from local businesses to support the project, and now needs to borrow $$1,960,000$ to complete the project. It therefore decides to issue $$1,960,000$ 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 $9\%.$

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