Westview Magazine issued $$360,000$ of $15-$year, $5\%$ callable bonds payable on July $31,2024,$ at $95.$ On July $31,2027,$ Westview called the bonds at $101.$ Assume annual interest payments.

Requirements

Without making journal entries, compute the carrying amount of the bonds payable at July $31,2027.$

Assume all amortization has been recorded properly. Journalize the retirement of the bonds on July $31,2027.$ No explanation is required.

Requirement $1.$ Without making journal entries, compute the carrying amount of the bonds payable at July $31,2027.($Assume bonds payable are amortized using the straight$-$line

amortization method.$)$

First, complete the sentence below.

The carrying amount of the bonds payable at issuance $($July $31,2024)$ is

The

on the bonds at

issuance amounts to