7.10ico lutepere Exgrnsip 7aion 3 more Cneck My Work uses remaining Review the joumal entnes on the SpringFit Corporation panel, then answer the following questions 1. Assuming that no bonds had been issued prior to Year 1 , how many different bonds appear in the journal entries for this year? 2. Which entry shows bonds issued at a contract rate lower than the 1 Choose the date 3. How much interest was paid during the year on the bonds in question (2)? 4 What is the carrying amount of the bonds in question (2) at the end of the year? 5 Which entry shows bonds that sold for more than their face amount? Choose the date 6. How much interest was paid dunng the year on the bonds in question (5)? 7. Assuming that straight-Ine amortization is used for the bonds in (5), what is the bond life? 8. What is the carrying value of the bonds in question (5) at the end of the year? Considering the joumal entries for both years, answer the following questions. 1. Why do some bonds sell below face value? 2. Which of the following items are amortized? Some bonds are sold at a discount or premium. Some bonds cannot be amortized effectively Interest expenses Some bonds have longer maturity dates Future cash receipts The face value of some bonds is below market value Premiums The yield rate of interest is greater than the stated rate of interes It depends on the face value of the bond Redemption amount Discounts Contract rate of interest Bonds