Current Attempt in Progress On July 1, 2020 Pearl Limited issued bonds with a face value of $1,040,000 due in 20 years, paying interest at a face rate of 7% on January 1 and July 1 each year. The bonds were issued to yield 9%. The company's year-end was September 30. The company used the effective interest method of amortization. Click here to view the factor table PRESENT VALUE OF 1 Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. Using 1.factor Tables 2. a fnancial calculator, or 3. Excel function PV, calculate the premium or discount on the bonds. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 5,275.) on bond $ List of Accounts ale for July 1 2020 January 1, 2021 and July 1 2021. Prenare a nartial Bond Premium/Discount Amortization Schedule for Pearl L imited Only prenare.tbe. 22 Prepare a partial Bond Premium/Discount Amortization Schedule for Pearl Limited. Only prepare the entries in the schedule for July 1, 2020, January 1, 2021, and July 1, 2021 (Round answers to 0 decimal places, e.g. 5,275.) Date Cash Paid Interest Expense Amortized Carrying Amount 1-Jul-20 1-Jan-21 1-Jul-21 List of Accounts Prepare the journal entry to record the issue of the bonds. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275.) Debit Credit Date Account Titles and Explanation July 1 Prepare the year-end accrual entry for Pearl Limited at September 30, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275.) Credit Debit Date Account Titles and Explanation Sept. 30 List of Accounts Prepare the journal entry on January 1, 2021 when Pearl makes the first payment of interest on the bonds. (Credit account titles are automatically indented when the amount is entered, Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275.) Credit Debit Account Titles and Explanation Date Jan. 1, 2021. TABLE PV.1 Present Value of 1 (n) periods 11% 15% 8% 9% 10% 12% 22% 3% 4% 5% 6% 7% 2% 0.98039 o.97561 0.97087 o.96156 0.95238 o.94340 0.93458 0.92593 0.91743 o.90909 0.90090 o.89286 o.86957 0.96117 0.95181 0.94260 0.92456 0.90703 0.89000 0.87344 0.85734 o.84168 0.82645 o.81162 o.79719 0.75614 0.94232 0.92860 0.91514 0.88900 0.86384 0.83962 0.81630 0.79383 0.77218 0.75132 0.73119 0.71178 o.65752 0.92385 o.90595 0.88849 o.85480 0.82270 o.79209 0.76290 0.73503 0.70843 0.68301 o.65873 o.63552 0.57175 0.90583 o.88385 o.86261 0.82193 0.78353 0.74726 0.71299 0.68058 0.64993 0.62092 0.59345 0.56743 0.49718 1 4 5 o.88797 o.86230 o.83748 o.79031 o.74622 0.70496 0.66634 0.63017 0.59627 0.56447 0.53464 0.50663 0.43233 0.87056 0.84127 0.81309 0.75992 0.71068 o.66506 0.62275 0.58349 0.54703 0.51316 0.48166 0.45235 0.37594 0.85349 o.82075 0.78941 0.73069 0.67684 0.62741 0.58201 0.54027 0.50187 0.46651 0.43393 0.40388 0.32690 0.83676 o.8o073 0.76642 0.70259 0.64461 0.59190 o.54393 0.50025 0.46043 0.42410 0.39092 0.36061 0.28426 o.82035 o.78120 o.74409 0.67556 o.61391 o.55839 o.50835 0.46319 0.42241 0.38554 0.35218 0.32197 0.24719 o.80426 0.76214 0.72242 o.64958 0.58468 o.52679 o.47509 0.42888 o.38753 0.35049 0.31728 0.28748 0.21494 0.78849 o.74356 0.70138 0.62460 0.55684 o.49697 0.44401 0.39711 0.35554 0.31863 0.28584 0.25668 0.18691 o.77303 o.72542 o.68095 0.60057 0.53032 0.46884 OM1496 0.3677o 0.32618 o.28966 0.25751 0.22917 o.16253 o.75788 o.70773 0.66112 0.57748 0.50507 0.44230 0.38782 o.34046 0.29925 o.26333 o.23199 0.20462 0.14133 o.74301 0.69047 0.64186 0.55526 0.48102 0.41727 0.36245 0.31524 0.27454 0.23939 0.20900 o.18270 0.12289 o.72845 0.67362 o.62317 0.53391 0.45811 0.39365 o.33873 o.29189 o.25187 0.21763 o.18829 o.16312 0.10687 0.71416 0.65720 o.60502 0.51337 0.43630 0.37136 0.31657 0.27027 0.23107 o.19785 o.16963 0.14564 o.09293 o.70016 o.64117 0.58739 0.49363 0.41552 0.35034 0.29586 0.25025 0.21199 0.17986 o.15282 o.13004 o.08o81 o.68643 0.62553 0.57029 0.47464 0.39573 0.33051 0.27651 0.23171 0.19449 0.16351 0.13768 0.11611 0.07027 6 7 8 9 10 11 12 13 14 15 16 17 18 19 o.67297 o.61027 0.55368 0.45639 0.37689 0.31180 0.25842 o.21455 o.17843 o.14864 o.12403 0.10367 o.06110 20 Financial Calculators Present values can also be calculated using financial calculators. A financial calculator will perform the same calculation as a basic calculator, but it requires fewer steps and less input. Basically, with a financial calculator, you input the future value, the discount rate, and the number of periods, and then tell it to calculate the present value. Illustration 3.10 shows the required inputs for a present value calculation using a financial calculator. Yield ($952.38) PV