Problem $14\mathrm{.}5($Algo$)$ Issuer and investor; effective interest; amortization schedule; adjusting entries $[$LO$14-2]$

On February $1\mathrm{.}2024,5$ anyal Motor Products issued $95$ s bonds, dated February $1,$ with s face amount of $960$ million.

The bonds mature on danuary $34\mathrm{.}2023$ plour yeary

The market yeld for bonds of simillor riale and matuity mas $5015$

Interest is paid nesianhually on July $31$ and January $71$

Barnwell induatries acquiced $$00,000$ of the bonds is a long$-0$evm imentment.

The fiscal years of boen flims end December $31.$

Pequirest

Determine she price of the bonds lasued on February $1,2024$

$2-$a$.$ Prepare amortiabion schedules that indicate Sanyafis ellective interest expense for each imterept period during the tern tio maharly.

$2-$b$.$ Prepare Amortisation schedules that indicast Barmwells effective intenept revertue for each interest period during the lerm to maturity.

$3.$ Puepare the journal entries to necond The lasuance of the Bonda by Sanyal and Barmwelrs inveitinent on Fobruay $12024.$

$4.$ Prepare the journal enties by both frms to recond all events related to the bonds lhough danuay $342026\mathrm{.}20$

Complete this questien ly entering your answers in the tabs belew.

Ren $24$

Nate $28$

$1843$

De: $4$ Harturet maturity.

Pryment

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