oblem Sets (Total 9 p.) 1. Cheyenne Co sells $407,000 of 10 sold at a discount because the market rate The bonds pay interest on September 2020 Vor on bonds on March 1, 2017 for $440,982. Their bonds are market rate is 12% during the priod when their bonds are issued "Pember and March 1. The due date of the bonds is September 1 Required: (a) Prepare a partial bond amor and premium amortization. Amortize pe (Round answers to 0 decimal place d answers to 0 decimal places, ... 38.548) Amortization schedule using the effective interest method for discount Amortize premium or discount on interest dates and at year-end. Schedule of Bond Discount Amortization Effective Interest Method Bonds Sold to Yield Date Cash Paid Interest Expense Discount Amortized Carrying Amount of Bonds 3/1/17 9/1/17 3/1/18 (b) Based on the schedule of bond amortization you prepared in (a), prepare the journal entries for Cheyenne Co, at the following dates (March 15, 2017; Septmber 13, 2017, December 31, 2017; March 18, 2018) to record issuance of bonds, payment of interest, and amortization of bond discount using effective interest method. (c) On March 1st, 2018, Cheyenne buys back $233,500 (50%) worth of bonds for $225,000. Prepare the journal entry on March 1st, 2018 to record the redemption of half of their bonds. (d) Show how the bonds appear on the Balance Sheet at March 1st, 2018 after Cheyenne's redemption of bonds. (be sure to show correct amounts as well as the appropriate section of the Balance Sheet)