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? 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 $1,2023.$

Journal entry worksheet

$1$

Record the sale of bonds at a premium on the original issue date.

Note: Enter debits before credits. c$.$ What is the contract interest rate for the issue bond $A?$

d$.$ Interest of how much is paid how often for bond A issued? e$.$ What is the term of bond A issue?

Term of each bond issue

year term

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

Total bond interest expense

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

Journal entry worksheet

$1$

$2$

Note: Enter debits before credits.