On March 1, 2020. Quinto Mining Inc. issued a $610,000, 10%, 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 9% 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 rouls intermediate calculations. Round the final answers to nearest whole dollar. Enter all the amounts as positive values.) Period Ending Cash Interest Period Interest Paid Expense Premium Amort. Unamortized Premium Carrying Value $ 0 $ OS 0 Mar 1/20 Sept 1/20 Mar 1/21 Sept 1/21 Mar 1/22 Sept 1:22 Mar 123 n 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.) View transaction list View journal entry worksheet NO Date General Journal Debi Mar 01, 2020 Cash Bonds payable Premiurn on bonds payable 640,000 2 Apr 30, 2020 Bond interest expense Premium on bonds payable Interest payable 3 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 11.0% 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 os positive values.) Period Ending Cash Interest Period Interest Paid Expense Discount Amort. Unamortized Discount Carrying Value S os 0 S D Mar 1/20 Sept 1/20 Mar 1/21 Sept 1/21 Mar 1/22 Sept 1/22 Mar 123 Totals 0 0 S $ 0 0 S 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. View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 Mar 01, 2020 Cash Discount on bonds payable Bonds payable 640,000 2 Apr 30, 2020 Bond interest expense Discount on bonds payable Interest payable 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. View transaction list View journal entry worksheet Debit Credit No Date Sep 01, 2020 1 General Journal Bonds payable Loss on retirement of bonds Cash Discount on bonds payable Prey 36 Next