On September 1, 2017, Messner Corp. issued a $250,000, 12%, four-year bond. Interest is payable semi-annually beginning March 1, 2018. Required: a. Calculate the bond issue price assuming a market interest rate of 10% on the date of issue. b. Using the effective interest method, prepare an amortization schedule. Question 2: Refer to the amortization schedule prepared in Question 1. Assume a January 31 year-end. Required: Part 1 Record the following entries: a. Issuance of the bonds on September 1, 2017 b. Adjusting entry to accrue bond interest and premium amortization on January 31, 2018 c. Payment of interest on March 1, 2018 Part 2 Show how the bond will appear on the balance sheet under non-current liabilities at January 31, 2020. Question 3: On February 1, 2017, Fireside Corp. issued a $700,000, 8%, two-year bond. Interest is payable quarterly each May 1, August 1, November 1, and February 1. Required: Part 1 a. Calculate the bond issue price assuming a market interest rate of 16% on the date of issue. b. Using the effective interest method, prepare an amortization schedule. c. Record the entry for the issuance of the bond on February 1; the adjusting entry to accrue bond interest and related amortization on March 31, 2017, Fireside Corp.’s year-end; and the payment of interest on May 1, 2017. d. Record the entry for the retirement of the shares at 101, on February 1, 2018, one year early, and after the interest payment.