A B C D E F G 29 PART B QUESTION DATA (14 marks): On January 1, 2020, Noah Corporation issued $600,000 of 7% bonds that are due in 10 30 years for $644,632. Interest will be paid semi-annually on July 1 and January 1. The company follows IFRS and uses the effective interest rate method with an effective rate of 6%. Quinton Corporation has a year-end of October 31st and has 31 prepared the following CORRECT amortization schedule. Use this schedule to answer the following REQUIRED: 32 33 Date Interest expense 34 35 1-Jan-20 36 1-Jul-20 37 1-Jan-21 38 39 PART B REQUIRED: Amortization Unamortized Carrying value amount amount 44,632 644,632 19,339 1,661 42,971 642,971 19,289 1,711 41,260 641,260 40 (1). Record the journal entries from January 1, 2020 to January 1, 2021. Use Contra-Accounts for any bond premium or 41 discount. Round EACH entry line to the nearest whole dollar (0 decimals) using the ROUND formula where indicated. 42 Date Account Title Debit Credit