The following are Merpati Bhd's transactions related to non-current liabilities throughout the year ends December 31, 2023.

January 1

Issuing 10% Payable Bonds worth RM1,000,000 at a price of RM 926,395. This bond will mature on January 1, 2027. The market interest rate is 12%. Interest is paid every January 1 and July 1.

1 April

Issuance of unpaid bonds, 15% with a face value of RM500,000 dated 1 January 2023 at 110.81 plus accrued interest. Interest is paid on each January 1st. The bond will mature on January 1, 2028. Expected rate of return from this bond is 12%.

1 July

Signed a note payable without interest of RM60,000, 2-year for obtained a loan amounting to RM45,079 from Bank Angsa. Rates the market interest on notes payable like this is 10%.

Be required:

a) Explain how the issue price of 10% Bonds Payable is calculated. Support your answer with calculations.

b) Prepare a journal entry to record the above transactions.

c) Prepare a repayment schedule for the 10% Bonds Payable until July 1, 2024.

d) Prepare an adjusting entry on December 31, 2023.

e) If on January 2, 2024, Merpati Bhd. raise 50% of Bonds Payable 15% on 105. Prepare the journal entry to record this transaction.

f) Show the presentation of the 10% Bond Payable in Merpati's financial statement Bhd for the financial year ending 31 December 2023.