On July 1, 2020 Flint Limited issued bonds with a face value of $ 1,050,000 due in 20 years, paying interest at a face rate of 7% on January 1 and July 1 each year. The bonds were issued to yield 8%. The company's year-end was September 30. The company used the effective interest method of amortization, Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. (a) Your answer is partially correct. Using 1. factor Tables 2. a financial calculator, or 3. Excel function PV, calculate the premium or discount on the bonds. (Round factor values to 5 decimal places, eg. 1.25124 and final answer to O decimal places, eg. 5,275.) Discount on bond $ The government lent $ 200,000 to Metlock Industries, who signed a 5-year zero-interest note dated January 1, 2021 to help finance the construction of a building. The market rate of interest is 6% and the effective interest method of amortization is used. The loan will be forgiven if Metlock provides employment for a specified number of individuals for a specified period of time. If these conditions are not met, the amount is due to the government in full in five years. Metlock believes it will be able to meet the conditions. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. Using 1. Factor Tables 2. a financial calculator, or 3. Excel function PV, calculate the amount of the note payable issued to Metlock who follows IFRS. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answer to O decimal places, eg. 5,275.) $ Cash received Bonita Limited has been experiencing increased customer demand for its specialty food products. To meet this demand, the company has bought additional refrigeration units to hold more inventory. To finance this purchase, Bonita issued a four-year non-interest- bearing note, with a face value of $ 400,000. The prevailing interest rate for similar instruments is 6%. The company agreed to repay the note in four equal instalments. Bonita used the effective interest method to amortize any premium or discount Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1 (a) Using (1) factor tables. (2) a financial calculator, or (3) Excel function PV, prepare the journal entry at the date of purchase. (Hint: Refer to Chapter 3 for tips on calculating.) (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit