Intermediate Accounting II Handout Homework Problem #4 On BONDS Payable for Chapter 14 Spring 2020 Due in class on Wednesday, February 12, 2020 On August 1, 2019. your company sold $150,000 of 8%, 10 year bonds when the market rate was 7%. These bonds pay interest annually on July 31 each year. Your company uses the interest method of amortization. Calculate the selling price of the bonds. Show the time value of money factors you entered into your calculator. Prepare an amortization table for the 10 year life of the bond. The table should have separate columns for each year (1 - 10), the beginning balance each year, the amount of the payment each year, the amount of interest each year, the amount of amortization each year, and the ending balance each year. It would probably be a good idea to use a spreadsheet for this table. Please round all amounts in this table to the nearest PENNY. Prepare journal entries from August 1, 2019, through December 31, 2020 (including adjusting and reversing entries), assuming your company's year ends on December 31. Put the appropriate date beside each journal entry. D. Prepare a list of the current liabilities AND THE AMOUNTS from the above transactions which should be reported on the balance sheet on December 31, 2019. E. Prepare a list of the NON current liabilities AND THE AMOUNTS from the above transactions which should be reported on the balance sheet on December 31, 2019