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On July 1, 2019, Ryder Co. issued five-year bonds with a face value of $400,000 and a stated interest rate of 5%, payable semiannually on

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On July 1, 2019, Ryder Co. issued five-year bonds with a face value of $400,000 and a stated interest rate of 5%, payable semiannually on June 30 and December 31. The bonds were dated January 1, 2019 and could not be issued on that date due to unforeseen circumstances. The bonds were sold to yield 6% Required: a)Calculate the issue price of the bonds on July 1, 2019 using the requisite tables. Show your calculations. b)Without prejudice to your solution in part (a), assume that the issue price was $380,000. Prepare the amortization table for 2019 and 2020, assuming that amortization is recorded on interest payment dates using the effective interest method. c)If the company has a September 30 year-end, prepare the journal entry for accrual of interest on 9/30/2019 using the amortization schedule in (b). d)Assume $100,000 of the above bonds were bought back and retired on 9/1/2020 at a price of 101 plus accrued interest. Using the schedule from (b) above, prepare the journal entries to record this early redemption

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