Riverbed Co. is building a new music arena at a cost of $5,652,000. It received a down payment of $642,000 from local businesses to support the project, and now needs to borrow $5,010,000 to complete the project. It therefore decides to issue $5,010,000 of 7%, 20- 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. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to O decimal place e.g. 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 the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date Account Titles and Explanation January 1,2024 Cash Discount on Bonds Payable Bonds Payable Debit 4095316 914684 Credit 5010000 Prepare a bond amortization schedule up to and including January 1, 2028, using the effective-interest method. (Round answers to O decimal place, e.g. 38,548.) Date Cash Paid 1/1/24 $ 1/1/25 350700 1/1/26 350700 1/1/27 1/1/28 350700 350700 Interest Expense Discount Amortization Carrying Value of Bonds $ $ $ 4095316 368578 17878 4113194 370187 19487 4132681 371941 373853 21241 4153922 23153 Assume that on July 1, 2027, Riverbed Co. retires 40% of the bonds at a cost of $1,903,000 plus accrued interest. Prepare the journal entry to record this retirement. (Round answers to O decimal place, e.g. 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 the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date Account Titles and Explanation July 1, Interest Expense 2027 Discount on Bonds Payable Cash (To record interest) July 1, Bonds Payable 2027 Debit 74771 2004000 Loss on Redemption of Bonds 168173 Cash Discount on Bonds Payable (To record reacquisition) Credit 4631 70140 1903000 101000 4177075 1/2