1. XYZ, Inc. received $1,099,708 from selling $1,000,000 face amount of 10-year bonds with a coupon rate of 10% that pays interest semi-annually. Answer the following questions and prepare the following journal entries related to this bond issuance. The effective interest rate for the bonds is 8.5%. For all your entries, include which section of which financial statement will be affected by the transaction. a. Use the PV function in Excel to confirm the bond's effective rate. You will need to calculate two present values and add them together one for the principle and one for the interest payments. b. Record issuance of the bonds. Account Debit Credit c. Record payment of the first six month's interest using the effective interest rate approach. Account Debit Credit d. Record the payment of the second six month's interest using the effective interest rate approach. Account Debit Credit