1. On January 1, 2020, Scottsdale Company issued is 11% bonds in the face amount of $3,000,000, which mature on January 1, 2030. The bonds were issued for $53,385,058 to yield 9%. Scottsdale uses the effective interest method of amortizing bond premium. Interest is payable annually on December 31. The 12/31/23 Premium on Bond Payable balance is: Answer $ 2. On April 1, 2020, Sydney Company issued 300 $1,000 bonds at 98. Each bond was issued with three detachable stock warrants. Shortly after issuance, the bonds were selling at 96, and the warrants were selling for $50 each. Instructions: Prepare the entry to record the issuance of the bonds and warrants. 3. The Cinc Company issues $100.000, 10% bonds at 103 on April 1, 2020. The bonds are dated January 1, 2020 and mature eight years from that date. Straight-line amortization is used. Interest is paid annually each December 31. Compute the bond carrying value as of December 31, 2023 Answer 4. At December 31, 2026, the following balances existed for MICPA Corporation: Bonds Payable (6%) $800,000 Discount on Bonds Payable 50,000 The bonds mature on 12/31/28. Straight-line amortization is used. If 80% of the bonds are retired at 103 on January 1, 2028, what is the gain or loss on early extinguishment? Answer $ Required: Compute the answer for each of the four problems. Show supporting computation. No need to show questions