On June $1,2023,$ JetCom Inventors Inc. issued a $$620,0007\%,$ three$-$year bond. Interest is to be paid semiannually beginning December $1,2023.$ Required: a$.$ Calculate the issue price of the bond assuming a market interest rate of $8\%.($Do not round intermediate calculations. Round the final answer to the nearest whole dollar.$)$ b$.$ Using the effective interest method, prepare an amortization schedule. $($Do not round intermediate calculations. Round the final answers to the nearest whole dollar. Enter all the amounts as positive values.$)$ Part $1$ Prepare journal entries to the following. $($Do not round intermediate calculations. Round the final answers to the nearest whole dollar.$)$ a$.$ Issuance of the bonds on June $1,2023$ b$.$ Payment of interest on December $1,2023$ c$.$ Adjusting entry to accrue bond interest and discount amortization on January $31,2024$ d$.$ Payment of interest on June $1,2024$ Assume JetCom Inventors Inc. has a January $31$ year$-$end. Part $2$ Show how the bonds will appear on the balance sheet under non$-$current liabilities at January $31,2025.($Do not round intermediate calculations. Round the final answers to the nearest whole dollar.$)$ PrevQuestion $7$ of $10$ Total$7$ of $10$Visit question map