Answer the following questions about Captain Johnny Whizbang bonds payable -

a) Answer the following questions about Captain Johnny Whizbang’s bonds payable: i. What is the maturity value of the bonds? ii. What is the carrying amount of the bonds at December 31, 2012? iii. What is the annual cash interest payment on the bonds? iv. How much interest expense should the company record each year? b) Record the June 30, 2013, semiannual interest payment and amortization of discount. c) What will be the carrying amount of the bonds at December 31, 2013? NOTE: This question is NOT our property; we are only suggesting solution of this question.

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