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 $700,000 x 8.0% x 6/12 (A) Cash Interest Paid (B) Period Interest Expense (E) x 7.0% x 6/12 (E) Carrying (c) (D) Amort. Unamortized (A) (B) June 1/20 Balance $46,164 Value $700,000 + (D) $746,164 Dec. 1/20 $ 28,000 $ 26,116 $ 1,884 44,280 744,280 Dec. 1/26 28,000 25,153 2,847 15,805 715,805 June 1/27 28,000 25,053 2,947 12,858 712,858 Dec. 1/27 28,000 24,950 3,050 9,808 709,808 June 1/28 28,000 24,843 3,157 6,651 706,651 Dec. 1/28 28,000 24,733 3,267 3,384 703,384 June 1/29 28,000 24,616 3,384 0 700,000 Totals $ 504,000 $ 457,836 $46,164 *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? *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? O Issued at discount O Issued at premium O Issued at premium & discount 13 b. Journalize the issuance of bond A on June 1, 2020. View transaction list View transaction list Journal entry worksheet < 1 Record the sale of bonds at a premium on the original issue date. Note: Enter debits before credits. Date June 01, 2020 General Journal Debit Credit Record entry Clear entry View general journal c. What is the contract interest rate for the issue bond A? Contract interest rate % d. Interest of how much is paid how often for bond A issued? Interest paid 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, 2026. (Enter all amounts as positive values.) Balance Sheet (Partial) Non-current liabilities ces may g. Calculate the total bond A interest expense that would appear on the income statement for the year ended July 31, 2027. Total bond interest expense h. Independent of (a) through (g), assume bond A issues were retired on December 1, 2027, at 97. Record the entries View transaction list Journal entry worksheet > 1 2 Record the payment of interest on bonds. Note: Enter debits before credits. Date December 01, 2027 General Journal Debit Credit & Bond Issue B Period Ending $560,000.0 x 8.0% x 3/12 (A) Cash Interest Paid (B) Period Interest Expense (E) x 8.5% x 3/12 (C) Amort. (A) - (B) (D) Unamortized Balance Apr. 1/18 (E) Carrying Value $560,000 - (D) $18,736 Jul. 1/18 $ 541,264 $ 11,200 $ 11,502 $ 302 18,434 541,566 Apr. 1/26 11,200 11,779 579 5,102 554,898 Jul. 1/26 11,200 11,792 592 4,510 555,490 Oct. 1/26 11,200 11,804 604 3,906 556,094 Jan, 1/27 11,200 11,817 617 3,289 556,711 Apr. 1/27 11,200 11,830 630 2,659 Jul. 1/27 557,341 11,200 11,843 643 2,016 Oct. 1/27 557,984 11,200 11,857 657 1,359 Jan. 1/28 558,641 11,200 11,871 671 688 559,312 Apr. 1/28 11,200 11,888 688 0 560,000 Totals $ 448,000 $ 466,736 $18,736 *Adjusted for rounding 2. Bond Issue B a. Were the bond B issued at a premium and/or discount? a. Were the bond B issued at a premium and/or discount? O Issued at discount O Issued at premium O Issued at premium & discount b. Journalize the issuance of bond B on April 1, 2018. es View transaction list Journal entry worksheet 1 Record the Issuance of bonds at a discount. Note: Enter debits before credits. Date General Journal VIEW transaction HIST Journal entry worksheet 1 Record the Issuance of bonds at a discount. Note: Enter debits before credits. Date April 01, 2018 General Journal Debit Credit Record entry Clear entry View general journal V c. What is the contract interest rate for the issue bond B? Contract interest rate % d. Interest of how much is paid how often for bond B issued? Interest paid e. What is the term of bond B issue? Term of each bond issue year term f. Show how bond B would appear on the balance sheet under non-current liabilities at July 31, 2026. Balance Sheet (Partial) Non-current liablities g. Calculate the bond B interest expense that would appear on the income statement for the year ended July 31, 2027 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. View transaction list Journal entry worksheet 1 2 Record the interest paid on bonds. Note: Enter debits before credits. Journal entry worksheet > 1 2 Record the interest paid on bonds. Note: Enter debits before credits. Date December 01, 2027 General Journal Debit Credit Record entry Clear entry View general journal