Question: a to g questions need to be solved. Thanks! Problem 1 On April 1. 2019, Sarkar Sailboats sold 20,000 unit of Bonds of its 11%

a to g questions need to be solved. Thanks!

a to g questions need to be solved. Thanks! Problem 1 On

Problem 1 On April 1. 2019, Sarkar Sailboats sold 20,000 unit of Bonds of its 11% coupon rate, 15-year, $1,000 face value per bond. The market interest rate of the bond is 12% on the date of issuance. Interest payment dates are April 1 and October 1. On July 1, 2020, Sarkar retired 40% of its Bonds at the price of 102 plus accrued interest. 1. PVF(i=6%, n=30)=0.174 2.PVFOA(i=65,n=300=13.764) Instructions Prepare the journal entries needed on the books of Sarkar to record the following: a. April 1, 2019: issuance of the bonds. b. Prepare the amortization schedule until October 1, 2020 C. October 1, 2019: payment of semiannual interest. d. December 31, 2019: accrual of interest expense and amortization of any premium/discount. e. April 1, 2020: payment of semiannual interest. f. July 1,2020: Payment of interest expense for the 40% of its Bonds retired and amortization of any premium/discount. g. July 1, 2020: Early extinguishment of 40% of its bonds. a. b. Year 4/1/19 Cash Paid Amortized Interest Expense amount Carrying Amount of Bonds 10/1/19 4/1/20 10/1/20

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