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On October 1. 2023. Ross Wind Energy Inc, issued a $1,600.000.120%, seven-year bond. Interest is to be poid annusilly esch October 1. Assume a November
On October 1. 2023. Ross Wind Energy Inc, issued a $1,600.000.120%, seven-year bond. Interest is to be poid annusilly esch October 1. Assume a November 30 year-end. (Use TABLE 14A.1 and TABLE 14A.2.]. (Use eppreprlate facter(s) from the tobles provided.) Requlred: a. Calculate the issue price of the bond assuming a market interest rate of 108 on the dste of the bond issue. (Do not round intermediate calculatlons. Round the final answer to the nearest whole dollaz.) b. Using the effective interest method, prepare an amortizstion schedule. (Do not round Intermedlate calculatlons. Round the final onswers to the nearest whole dolior. Enter all the amounts os positlve values.) Part 1 Record the following entries: (Round the finel answers to the nearest whele doller.] a. Issuance of the bonds on October 1, 2023 b. Adjusting entry to accrue bond interest and premium amorization on November 30,2023 c. Peyment of interest on October 1, 2024 Journal entry worksheet Record the issuance of bond at premium. Note: Enter dibits bofore eriditi. Part 2 Show how the bend will appear an the balence sheet under non-curtemt liabilites at November 30,2024 . (Do not round Intermedlate calculatlons. Aound the final answers to the neerest whole dollar.)
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