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Martinez Co. is building a new hockey arena at a cost of $2,510,000. It received a downpayment of $490,000 from local businesses to support the project, and now needs to borrow $2,020,000 to complete the project. It therefore decides to issue $2,020,000 of 10%, 10-year bonds. These bonds were issued on January 1, 2019, 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, 2019. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to 0 decimal places e.g. 58,971. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation January 1, 2019 e Textbook and Media List of Accounts Prepare a bond amortization schedule up to and including January 1, 2023, using the effective interest method. (Round answers to O decimal places, e.g. 38,548.) Cash Paid Interest Expense Premium Amortization Carrying Amount of Bonds Date 1/1/19 $ 2094471.34 1/1/20 202000 1/1/21 202000 1/1/22 202000 1/1/23 202000 eTextbook and Media List of Accounts Assume that on July 1, 2022, Martinez Coredeems half of the bonds at a cost of $1,079,300 plus accrued interest. Prepare the journal entry to record this redemption. (Round answers to decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation July 1, 2022 (To record interest) July 1, 2022 (To record reacquisition) e Textbook and Media List of Accounts

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