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On June 1, 2020, Shebandowan Investors Inc. issued a $4,820,000, 10%, three year bond. Interest is to be paid semiannually beginning December 1, 2020. Assume

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On June 1, 2020, Shebandowan Investors Inc. issued a $4,820,000, 10%, three year bond. Interest is to be paid semiannually beginning December 1, 2020. Assume that the market rate of interest is 11% Use TABLE 14A1 and TABLE 14A 2. (Use appropriate factor(s) from the tables provided.) Required: Part 1 Record the following entries: (Do not round intermediate calculations. Round the final answers to the nearest whole dollar) a. Issuance of the bonds on June 1, 2020 b. Payment of interest on December 1, 2020 c. Adjusting entry to accrue bond interest and discount amortization on January 31, 2021 d. Payment of interest on June 1, 2021 Assume Shebandowan Investors 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, 2022 (Do not round intermediate calculations. Round the final answers to the nearest whole dollar) Balance Sheet (Partial) Non-current liabilities: On June 1, 2020, Shebandowan Investors Inc. issued a $4,820,000, 10%, three year bond. Interest is to be paid semiannually beginning December 1, 2020. Assume that the market rate of interest is 11% Use TABLE 14A1 and TABLE 14A 2. (Use appropriate factor(s) from the tables provided.) Required: Part 1 Record the following entries: (Do not round intermediate calculations. Round the final answers to the nearest whole dollar) a. Issuance of the bonds on June 1, 2020 b. Payment of interest on December 1, 2020 c. Adjusting entry to accrue bond interest and discount amortization on January 31, 2021 d. Payment of interest on June 1, 2021 Assume Shebandowan Investors 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, 2022 (Do not round intermediate calculations. Round the final answers to the nearest whole dollar) Balance Sheet (Partial) Non-current liabilities

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