Question $6(14$ marks$)$

Oscar Ltd$.$ issued bonds on May $31,$ Year $1,$ and they are $10-$year bonds paying interest twice a year on November $30$ and May $31.$ Face value is $$2,000,000$ with a $6\%$ coupon rate. They were issued at $91\mathrm{.}34965$ to yield $7\mathrm{.}23\%.$ December $31$ is year end, and Oscar Ltd$.$ follows IFRS.

Required

a$.$ Rounding interest to the full month and amounts to the nearest dollar, prepare a bond amortization table for the first three interest periods. Show your calculations for possible part marks.

b$.$ Rounding interest to the full month and amounts to the nearest dollar, prepare the journal entry to issue the bond.

c$.$ Rounding interest to the full month and amounts to the nearest dollar, prepare entries for November $30,$ Year $1,$ December $31,$ Year $1,$ and May $31,$ Year $2.$