Mahalo Boat Adventure Inc. has a July $31$ year$-$end. It showed the following partial amortization schedules regarding two bond issues:

Bond Issue A

$*$Adjusted for rounding

$($For all requirements, do not round intermediate calculations. Round the final answers to the nearest whole dollar.$)$

Required:

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

b$.$ Journalize the issuance of bond A on June $1,2023.$

c$.$ What is the contract interest rate for the issue bond A$?$

d$.$ Interest of how much is paid how often for bond A issue

hat is the term of bond A issue?

f$.$ Show how bond A would appear on the balance sheet under non$-$current liabilities at July $31,2029.($Enter all amounts as positive values.$)$

Calculate the total bond A interest expense that would appear on the income statement for the year ended July $31,2030.$

h$.$ Independent of $($a$)$ through $($g$),$ assume bond A issues were retired on December $1,2030,$ at $97.$ Record the entries

Bond Issue B

Period Ending $($A$)$

Cash

Interest Paid

$$600,000\mathrm{.}0\backslash$times

$12\mathrm{.}0\%\backslash$times $3/12($B$)$

Period

Interest

Expense

$($E$)\backslash$times $12\mathrm{.}5\%\backslash$times $3/12($C$)$

Amort.

$($A$)($B$)($D$)$

Unamortized

Balance $($E$)$

Carrying

Value

$$600,000($D$)$

Apr. $1/21$ $ $16,991$ $ $583,009$

Jul. $1/21$ $ $18,000$ $ $18,219$ $ $21916,772583,228$

$$

Apr. $1/2918,00018,5695695,236594,764$

Jul. $1/2918,00018,5865864,650595,350$

Oct. $1/2918,00018,6056054,045595,955$

Jan. $1/3018,00018,6246243,421596,579$

Apr. $1/3018,00018,6436432,778597,222$

Jul. $1/3018,00018,6636632,115597,885$

Oct. $1/3018,00018,6846841,431598,569$

Jan. $1/3118,00018,705705726599,274$

Apr. $1/3118,00018,726*7260600,000$

Totals $ $720,000$ $ $736,991$ $ $16,991$

$*$Adjusted for rounding

$2.$ Bond Issue B

a$.$ Were the bond B issued at a premium and$/$or discount?

multiple choice $2$

Issued at discount

Issued at premium

Issued at premium & discount

b$.$ Journalize the issuance of bond B on April $1,2021.$

c$.$ What is the contract interest rate for the issue bond B$?$

d$.$ Interest of how much is paid how often for bond B issued?

e$.$ What is the term of bond B issue?

f$.$ Show how bond B would appear on the balance sheet under non$-$current liabilities at July $31,2029.$

g$.$ Calculate the bond B interest expense that would appear on the income statement for the year ended July $31,2030.$

h$.$ Independent of $($a$)$ through $($g$),$ assume that bond B issues was retired on December $1,2030,$ at $97.$ Record the entries.