1) Chanti Limited issued $200,000, 6%, 10-year bonds on December 31, 2021, for $190,000. Interest is payable semi-annually on June 30 and December 31. Chanti has a December 31 year end. Amortization for the first semi-annual interest period is $360. Instructions Prepare the appropriate journal entries on

a)	December 31, 2021.

b)	June 30, 2022.

2)

The adjusted trial balance for Raines Corporation at the end of the 2021 fiscal year contained the following accounts:

Bonds payable, 5%

$460,000

Bond interest payable

20,000

Lease liability

50,000

Mortgage notes payable, 6%, due 2033

80,000

Accounts payable

120,000

Other information: The mortgage note is payable in monthly payments of $700 principal plus interest. Instructions a) Prepare the non-current liabilities section of the balance sheet. b) Indicate the proper balance sheet classification for the accounts listed above that do not belong in the non-current liabilities section.