pic 1 and 3 are informational pic 3 and 4 are the ones i need answered

You are an accounting intem working for SpringFit Corporation. You have recently been assigned to help one of the accountants who is doing an intemal audit of the business. You will be assisting with a review of the payables ssued by SpringFit Corporation. Your first task is to review the previous year's journal entries, shown below. Journal Entries, Year 1 Assuming that no bonds had been issued prior to Year 1, how many different bonds appear in the journal entries for this year? Which entry shows bonds issued at a contract rate lower than the market rate of interest? Choose the date. 3. How much interest was paid during the year on the bonds in (2) above? 4. What is the of the bonds in (2) above at the end of the year? 5hich entry shows bonds that sold for more than their face amount? Choose the date. Jan. 1 3. How much interest was paid during the year on the bonds in (5) above? $45,000V 7. Assuming that straight-line amontization is used for the bonds in (5), what is the bond life? 10 years 3. What is the carrying value of the bonds in (5) above at the end of the year? 9. Considerina onlv the Voar 1 iaumal entries, how much interest was probably accrued on the note payable issued during the year? ou have been asked to continue your work on the SpringFit Corporation audit. Below are the journal entries for the urrent year. Journal Entries, Year 2 Considering the journal entries for both yars, answer the questions betow 1. What is the yearty payment amouns required for the note payable? (Assume is is an instatlment note) 2. What is the interest rate on the note payatle? 3. Were the bonds in the entry on Dee. 31 of Year 2 redeemed at maturity? 4. You suspect there is an error in one of the bond redernstion entries. Assuming that the amounts are correct, which entry is questionatile? There is no error. 5. Why do some bonds seill below face value? You are an accounting intem working for SpringFit Corporation. You have recently been assigned to help one of the accountants who is doing an intemal audit of the business. You will be assisting with a review of the payables ssued by SpringFit Corporation. Your first task is to review the previous year's journal entries, shown below. Journal Entries, Year 1 Assuming that no bonds had been issued prior to Year 1, how many different bonds appear in the journal entries for this year? Which entry shows bonds issued at a contract rate lower than the market rate of interest? Choose the date. 3. How much interest was paid during the year on the bonds in (2) above? 4. What is the of the bonds in (2) above at the end of the year? 5hich entry shows bonds that sold for more than their face amount? Choose the date. Jan. 1 3. How much interest was paid during the year on the bonds in (5) above? $45,000V 7. Assuming that straight-line amontization is used for the bonds in (5), what is the bond life? 10 years 3. What is the carrying value of the bonds in (5) above at the end of the year? 9. Considerina onlv the Voar 1 iaumal entries, how much interest was probably accrued on the note payable issued during the year? ou have been asked to continue your work on the SpringFit Corporation audit. Below are the journal entries for the urrent year. Journal Entries, Year 2 Considering the journal entries for both yars, answer the questions betow 1. What is the yearty payment amouns required for the note payable? (Assume is is an instatlment note) 2. What is the interest rate on the note payatle? 3. Were the bonds in the entry on Dee. 31 of Year 2 redeemed at maturity? 4. You suspect there is an error in one of the bond redernstion entries. Assuming that the amounts are correct, which entry is questionatile? There is no error. 5. Why do some bonds seill below face value