support the project, and now needs to borrow $$2,180,000$ to complete the project. It therefore decides to issue

$$2,180,000$ of $10\mathrm{.}0\%,10-$year bonds. These bonds were lssued on January $1,2024,$ and pay interest annually on each January $1.$ The

bonds yleld $9\%.$

$($a$)$

Your answer has been saved. See score details after the due date.

Prepare the journal entry to record the issuance of the bonds on January $1,2024.($Round present volue foctor calculations to $5$

decimal places, es$.1\mathrm{.}25124$ and the final answer to $0$ decimal places, es$.58,971.$ 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

Debit

Credit

January

$2024$

Cash

$2319\mathrm{.}902$

Bonds Payable

$2\mathrm{.}180000$

Premitum on Bonds Parable

$($b$)$

Prepare a bond amortization schedule up to and including January $1,2028,$ using the effective$-$interest method. $($Round present

value factor to $5$ decimal places, $8\mathrm{.}8\mathrm{.}24356$ and final answers to $0$ decimal places, es$.38,548)$