1. Bonds Payable: On January 1, 2021, ABC Company issued ten-year bonds with a face value of $5,500,000 and a stated interest rate of 7%, payable semiannually on July 1 and January 1 . The bonds were sold to yield 8%. Perform the following a) Prepare an amortization schedule in Excel for the entire term of the bond. - Calculate the bond price using the Present Value calculation in Ercel (PV) or your financial caleulator. In the area below the amortization schedule document the following b) Prepare the journal entry for the issuance on January 1, 2021 c) Prepate the journal entries for December 31, 2021 and January 1, 2022 d) What is the total Cost of Borrowing (2.e. Interest Expense) over the life of this bond? How much in cash interest was paid over the life of this bond? How much total Discount was amortized over the life of the bond