Question: 0 Data Table Long-term Liabilities: Bonds Payable Less: Discount on Bonds Payable $ 700,000 (140,000) $ 560,000 Print Done] Bob's Inc. issued 7%, 10-year bonds

0 Data Table Long-term Liabilities: Bonds Payable Less: Discount on Bonds Payable $ 700,000 (140,000) $ 560,000 Print Done] Bob's Inc. issued 7%,

0 Data Table Long-term Liabilities: Bonds Payable Less: Discount on Bonds Payable $ 700,000 (140,000) $ 560,000 Print Done] Bob's Inc. issued 7%, 10-year bonds at 75 on December 31, 2018. Reported on the company's December 31, 2020, balance sheet was the following: 2 (Click the icon to view the bonds payable.) Semi-annual interest is each June 30 and December 31. The straight-line amortization method is used. (Round amounts to the nearest whole dollar throughout, as applicable.) Requirement 1: a. What is the maturity value of the bonds? $ L b. What is the carrying amount of the bonds at December 31, 2020? $ C Requirement 2. Prepare the company's entry on June 30, 2020. (Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit 2020 Jun. 30

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d. Describe any challenges in trying to communicate. If there were no challenges, explain why you think it was so easy.

3. Identify the methods used within each of the three approaches.