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Chopin Corp sold $912,000 of 9%, 16-year bonds on Mar 31, 2019. The bonds were dated Jan 31, 2019, and pay interest on Jan 31

Chopin Corp sold $912,000 of 9%, 16-year bonds on Mar 31, 2019. The bonds were dated Jan 31, 2019, and pay interest on Jan 31 and Jul 31. Chopin Corp uses the straight-line method to amortize bond premium and discount. (Show the details of all computations and round all computations to the nearest dollar.)

a. How much cash would be collected on March 31, 2019, from the issuance of the bonds? Assume that the bonds were sold at 105 plus accrued interest.

b. How much cash would be paid on July 31, 2019?

c. How much amortization of discount/premium would be recorded on July 31, 2019?

d. How much total interest expense would be recorded on July 31, 2019?

e. What would the carrying value of the Chopin Bonds be on the Dec 31, 2029 balance sheet?

f. How does the market (or effective) rate of interest of this bond compare with the bond rate of 9%?

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