• 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 (A) Cash Interest Paid $740,000 × 12.0% × 6/12 (B) Period Interest Expense (E) × 11.0% × 6/12 (C) Amort. (A) − (B) (D) Unamortized Balance (E) Carrying Value $740,000 + (D) June 1/23 $ 41,610 $ 781,610 Dec. 1/23 $ 44,400 $ 42,989 $ 1,411 40,199 780,199 ⋮ ⋮ ⋮ ⋮ ⋮ ⋮ Dec. 1/29 44,400 41,717 2,683 15,802 755,802 June 1/30 44,400 41,569 2,831 12,971 752,971 Dec. 1/30 44,400 41,413 2,987 9,984 749,984 June 1/31 44,400 41,249 3,151 6,833 746,833 Dec. 1/31 44,400 41,076 3,324 3,509 743,509 June 1/32 44,400 40,891 3,509 0 740,000 Totals $ 799,200 $ 757,590 $ 41,610 *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? multiple choice 1 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 issued? e. What 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.) g. 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 $600,000.0 × 12.0% × 3/12 (B) Period Interest Expense (E) × 12.5% × 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 $ 219 16,772 583,228 ⋮ ⋮ ⋮ ⋮ ⋮ ⋮ Apr. 1/29 18,000 18,569 569 5,236 594,764 Jul. 1/29 18,000 18,586 586 4,650 595,350 Oct. 1/29 18,000 18,605 605 4,045 595,955 Jan. 1/30 18,000 18,624 624 3,421 596,579 Apr. 1/30 18,000 18,643 643 2,778 597,222 Jul. 1/30 18,000 18,663 663 2,115 597,885 Oct. 1/30 18,000 18,684 684 1,431 598,569 Jan. 1/31 18,000 18,705 705 726 599,274 Apr. 1/31 18,000 18,726 * 726 0 600,000 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.