On March 1, 2020, Quinto Mining Inc. issued a $580,000, 11%, three-year bond. Interest is payable semiannually beginning September 1, 2020.

Required: Part 1 a. Calculate the bond issue price assuming a market interest rate of 10% on the date of issue. (Do not round intermediate calculations. Round the final answer to nearest whole dollar.)

b. Using the effective interest method, prepare an amortization schedule. (Do not round intermediate calculations. Round the final answers to nearest whole dollar. Enter all the amounts as positive values.)

c. Record the entries for the issuance of the bond on March 1, the adjusting entry to accrue bond interest and related amortization on April 30, 2020, Quintos year-end, and the payment of interest on September 1, 2020. (Do not round intermediate calculations. Round the final answers to nearest whole dollar.)

Part 2 a. Calculate the bond issue price assuming a market interest rate of 12.0% on the date of issue. (Do not round intermediate calculations. Round the final answer to nearest whole dollar.)

b. Using the effective interest method, prepare an amortization schedule. (Do not round intermediate calculations. Round the final answers to nearest whole dollar. Enter all the amounts as positive values.)

c. Record the entries for the issuance of the bond on March 1; the adjusting entry to accrue bond interest and related amortization on April 30, 2020, Quintos year-end; and the payment of interest on September 1, 2020.

d. Record the entries for the retirement of 30% of the bonds at 102, on September 1, 2020, after the interest payment.

On March 1, 2020, Quinto Mining Inc. issued a $580,000, 11%, three-year bond. Interest is payable semiannually beginning September 1, 2020. Required: Part 1 a. Calculate the bond issue price assuming a market interest rate of 10% on the date of issue. (Do not round intermediate calculations. Round the final answer to nearest whole dollar.) Answer is complete and correct. Total issue price $ 597,669 b. Using the effective interest method, prepare an amortization schedule. (Do not round intermediate calculations. Round the final answers to nearest whole dollar. Enter all the amounts as positive values.) Answer is not complete. Premium Period Ending Unamortized Premium Carrying Value Amort. Period Interest Expense $ 0 29,883 $ $ 597,669 Mar. 1/20 Sept. 1/20 Mar. 1/21 Sept. 1/21 Mar. 1/22 Sept. 1/22 Mar. 1/23 Totals Cash Interest Paid $ 0 31,900 31,900 31,900 31.900 31,900 31,900 $ 191,400 $ 29,883 $ c. Record the entries for the issuance of the bond on March 1, the adjusting entry to accrue bond interest and related amortization on April 30, 2020, Quinto's year-end, and the payment of interest on September 1, 2020. (Do not round intermediate calculations. Round the final answers to nearest whole dollar.) Answer is not complete. Debit Credit No | 1 Date Mar 01, 2020 General Journal Cash Bonds payable Premium on bonds payable 2 Apr 30, 2020 Bond interest expense Premium on bonds payable Interest payable Sep 01, 2020 Interest payable Bond interest expense Premium on bonds payable Cash Part 2 a. Calculate the bond issue price assuming a market interest rate of 12.0% on the date of issue. (Do not round intermediate calculations. Round the final answer to nearest whole dollar.) Answer is not complete. Total issue price b. Using the effective interest method, prepare an amortization schedule. (Do not round intermediate calculations. Round the final answers to nearest whole dollar. Enter all the amounts as positive values.) % Answer is not complete. Period Interest Expense $ 0 Discount Amort. Unamortized Discount Carrying Value $ Period Ending Mar. 1/20 Sept. 1/20 Mar. 1/21 Sept. 1/21 Mar. 1/22 Sept. 1/22 Mar. 1/23 Totals Cash Interest Paid $ 0 31,900 31,900 31,900 31,900 31,900 31.900 $ 191,400 $ 0 $ c. Record the entries for the issuance of the bond on March 1; the adjusting entry to accrue bond interest and related amortization on April 30, 2020, Quinto's year-end, and the payment of interest on September 1, 2020. Answer is not complete. Debit Credit No 1 Date Mar 01, 2020 General Journal Cash Discount on bonds payable Bonds payable 2 Apr 30, 2020 Bond interest expense Discount on bonds payable Interest payable 000000000 3 Sep 01, 2020 Interest payable Bond interest expense Discount on bonds payable Cash d. Record the entries for the retirement of 30% of the bonds at 102, on September 1, 2020, after the interest payment. Answer is not complete. No Debit Credit Date Sep 01, 2020 General Journal Bonds payable Loss on retirement of bonds Cash Discount on bonds payable