c. What is the contract interest rate for the issue bond A? Answer is complete and correct. Contract interest rate 7 % d. Interest of how much is paid how often for bond A issued? Answer is complete and correct. Interest paid $ 26,600 Semi-annually e. What is the term of bond A issue? Answer is complete and correct. Term of each bond issue 9 year term f. Show how bond A would appear on the balance sheet under non-current liabilities at July 31, 2026. (Enter all amounts as positive values.) Non-current liabilities Answer is complete but not entirely correct. Balance Sheet (Partial) Bonds payable, 11.0%, due June 1, 2029 Add: Premium on bonds payable $ 760,000 2,251 $ 762,251 g. Calculate the total bond A interest expense that would appear on the income statement for the year ended July 31, 2027. Answer is complete and correct. Total bond interest expense $ 46,675 h. Independent of (a) through (g), assume bond A issues were retired on December 1, 2027, at 97. Record the entries No 1 Answer is complete and correct. General Journal Debit Credit 15,482 8,867 2,251 26,600 Date December 01, 202 Bond interest expense Interest payable Premium on bonds payable Cash 2 December 01, 202 Bonds payable Premium on bonds payable Cash Gain on retirement of bonds 760,000 10,749 737,200 33,549 Bond Issue B (A) Cash Interest Paid (B) Period Interest Expense $620,000.0 (E) 8.0% x Period Ending 7.0% x 3/12 3/12 (C) Amort. (A) - (B) (D) Unamortized Balance Apr. 1/18 $42,401 (E) Carrying Value $620,000 - (D) $577,599 Jul. 1/18 $ 10,850 $ 11,552 $ 702 41,699 578,301 Apr. 1/26 10,850 12,147 1,297 11,353 608,647 Jul. 1/26 10,850 12,173 1,323 10,030 609,970 Oct. 1/26 10,850 12,199 1,349 8,681 611,319 Jan. 1/27 10,850 12,226 1,376 7,305 612,695 Apr. 1/27 10,850 12,254 1,404 5,901 614,099 Jul. 1/27 10,850 12,282 1,432 4,469 615,531 Oct. 1/27 10,850 12,311 1,461 3,008 616,992 Jan. 1/28 10,850 12,340 1,490 1,518 618,482 Apr. 1/28 10,850 12,368* 1,518 0 620,000 Totals $434,000 $ 476,401 $42,401 *Adjusted for rounding 2. Bond Issue B a. Were the bond B issued at a premium and/or discount? Issued at discount Issued at premium Issued at premium & discount b. Journalize the issuance of bond B on April 1, 2018. Answer is complete and correct. General Journal Debit Credit 577,599 No Date 1 April 01, 2018 Cash Discount on bonds payable Bonds payable c. What is the contract interest rate for the issue bond B? Answer is complete and correct. Contract interest rate 7 % 42,401 620,000 d. Interest of how much is paid how often for bond B issued? Answer is complete and correct. Interest paid $ 10,850 Quarterly e. What is the term of bond B issue? Answer is complete and correct. Term of each bond issue year 10 term f. Show how bond B would appear on the balance sheet under non-current liabilities at July 31, 2026. Answer is not complete. Balance Sheet (Partial) Non-current liablities Bonds payable, 8.0%, due April 1, 2028 Less: Discount on bonds payable $ 620,000 g. Calculate the bond B interest expense that would appear on the income statement for the year ended July 31, 2027. Answer is not complete. Total bond interest expense h. Independent of (a) through (g), assume that bond B issues was retired on December 1, 2027, at 97. Record the entries. Answer is not complete. No 1 Date General Journal December 01, 202 Bond interest expense Interest payable Premium on bonds payable Cash 2 December 01, 202 Bonds payable Discount on bonds payable Cash Gain on retirement of bonds Debit Credit 620,000 601,400 Mahalo Boat Adventure Inc. has a July 31 year-end. It showed the following partial amortization schedules regarding two bond issues: Bond Issue A Period Ending Cash (A) (B) Period Interest Interest Paid $760,000 7.0% 6/12 Expense (E) 6.0% 6/12 (C) Amort. (A) (D) Unamortized (B) Balance June 1/20 $52,263 (E) Carrying Value $760,000 + (D) $ 812,263 Dec. 1/20 $ 26,600 $ 24,368 $ 2,232 50,031 810,031 Dec. 1/26 26,600 23,418 3,182 17,403 777,403 June 1/27 26,600 23,322 3,278 14,125 774,125 Dec. 1/27 26,600 23,224 3,376 10,749 770,749 June 1/28 26,600 23,122 3,478 7,271 767,271 Dec. 1/28 26,600 23,018 3,582 3,689 763,689 June 1/29 26,600 22,911 3,689 0 760,000 Totals $ 478,800 $ 426,537 $52,263 *Adjusted for rounding (For all requirements, do not round intermediate calculations. Round the final answers to the nearest whole dollar.) Required: 1. Bond Issue A a. Were the bond A issued at a premium and/or discount? Issued at discount Issued at premium Issued at premium & discount