1. a company issued 5-year, 7% bonds with a par value of $600,000. the market rate when the bonds were issued was 6.5%. the company received $606,000 cash for the bonds. using the straight-line method, the amount of recorded interest expense for the first semiannual interest period is: $21,000, $20,400, $42,000, $21,600, $41,400.

2. a company has bonds outstanding with a par value of $100,000. the unamortized discount on these bonds is $5,100. the company retired these bonds by buying them on the open market at 91. what is the gain or loss on this retirement? $3,900 gain, $3,900 loss, $0 gain or loss, $9,000 gain, $9,000 loss.

3. a corporation issued 8% bonds with a par value of $1,190,000, receiving a $58,000 premium. on the interest date 5 years later, after the bond interest was paid and after 40% of the premium had been amortized, the corporation purchased the entire issue on the open market at 99 and retired it. the gain or loss on this retirement is: $0, $11,900 gain, $11,900 loss, $46,700 gain, $46,700 loss.

For each of the following cases determine the ending balance in the inventory account. (hint: first, determine the total cost of inventory available for sale. next, subtract the cost of the inventory sold to arrive at the ending balance.)a. jill’s dress shop had a beginning balance in its inventory account of $40,000. during the accounting period jill’s purchased $75,000 of inventory, returned $5,000 of inventory, and obtained $750 of purchases discounts. jill’s incurred $1,000 of transportation-in cost and $600 of transportation-out cost. salaries of sales personnel amounted to $31,000. administrative expenses amounted to $35,600. cost of goods sold amounted to $82,300.b. ken’s bait shop had a beginning balance in its inventory account of $8,000. during the accounting period ken’s purchased $36,900 of inventory, obtained $1,200 of purchases allowances, and received $360 of purchases discounts. sales discounts amounted to $640. ken’s incurred $900 of transportation-in cost and $260 of transportation-out cost. selling and administrative cost amounted to $12,300. cost of goods sold amounted to $33,900.a& b. cost of goods avaliable for sale? ending inventory?