2 On June 1, 2020, JetCom Inventors Inc. Issued a $490,000 7%, three year bond. Interest is to be paid semiannually beginning December 1, 2020, Required: a. Calculate the issue price of the bond assuming a market interest rate of 8%. (Do not round intermediate calculations. Round the final answer to the nearest whole dollar.) 10 points see price of the bond $ 404,410 Skipped Print References b. Using the effective interest method, prepare an amortization schedule. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar. Enter all the amounts as positive values.) Period Ending Cash Period Interest Discount Interest Paid Expense Amort Unamortized Discount Carrying Value June 1/20 Dec 1/20 June 1/21 Dec. 1/21 June 1/22 Dec 1/22 June 1/23 0 Totals $ 0 $ 0 $ 2 10 points: Skipped Part 1 Prepare journal entries to the following. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.) a. Issuance of the bonds on June 1, 2020 b. Payment of interest on December 1, 2020 c. Adjusting entry to accrue bond interest and discount amortization on January 31, 2021 d. Payment of interest on June 1, 2021 Assume JetCom Inventors Inc. has a January 31 year-end. eBook Print View transaction list References Journal entry worksheet 1 21 3 4 Record issued bond at discount. Note: Enter debuts before credits Date June 01, 2020 General Journal Debit Credit Part 2 Show how the bonds will appear on the balance sheet under non-current liabilities at January 31, 2022. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.) Balance Sheet (Partial) Non-current liabilities