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 $610,000 9.0% 6/12					(B) Period Interest Expense (E) 8.0% 6/12					(C) Amort. (A) (B)					(D) Unamortized Balance					(E) Carrying Value $610,000 + (D)
June 1/20																	$	38,611				$	648,611
Dec. 1/20		$	27,450				$	25,944				$	1,506					37,105					647,105
Dec. 1/26			27,450					25,040					2,410					13,578					623,578
June 1/27			27,450					24,943					2,507					11,071					621,071
Dec. 1/27			27,450					24,843					2,607					8,464					618,464
June 1/28			27,450					24,739					2,711					5,753					615,753
Dec. 1/28			27,450					24,630					2,820					2,933					612,933
June 1/29			27,450					24,517					2,933					0					610,000
Totals		$	494,100				$	455,489				$	38,611

*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?

b. Journalize the issuance of bond A on June 1, 2020. 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, 2026. (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, 2027.

h. Independent of (a) through (g), assume bond A issues were retired on December 1, 2027, at 97. Record the entries

Bond Issue B

Period Ending	(A) Cash Interest Paid $470,000.0 9.0% 3/12					(B) Period Interest Expense (E) 10.0% 3/12					(C) Amort. (A) (B)					(D) Unamortized Balance					(E) Carrying Value $470,000 (D)
Apr. 1/18																	$	29,496				$	440,504
Jul. 1/18		$	10,575				$	11,013				$	438					29,058					440,942
Apr. 1/26			10,575					11,516					941					8,422					461,578
Jul. 1/26			10,575					11,539					964					7,458					462,542
Oct. 1/26			10,575					11,564					989					6,469					463,531
Jan. 1/27			10,575					11,588					1,013					5,456					464,544
Apr. 1/27			10,575					11,614					1,039					4,417					465,583
Jul. 1/27			10,575					11,640					1,065					3,352					466,648
Oct. 1/27			10,575					11,666					1,091					2,261					467,739
Jan. 1/28			10,575					11,693					1,118					1,143					468,857
Apr. 1/28			10,575					11,718	*				1,143					0					470,000
Totals		$	423,000				$	452,496				$	29,496

*Adjusted for rounding

2. Bond Issue B a. Were the bond B issued at a premium and/or discount? b. Journalize the issuance of bond B on April 1, 2018. 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? g. Calculate the bond B interest expense that would appear on the income statement for the year ended July 31, 2027. h. Independent of (a) through (g), assume that bond B issues was retired on December 1, 2027, at 97. Record the entries.