7. MoNeil Corporasion issued $700,000 of 16%, 10-year bonds payable on Jaruary 1,2022 . The market interest rate at the date of issuance was 14\%, and the bonds pay interest semiannually (on June 30 and December 31). MoNeil Corporation's year-end is June 30. Read the reguirements 1. 1. Using the PV function in Excel, calculate the issue price of the bonds. (Fiound your answer to the nearest whole dollar.) The issue price of the bonds is 2. Prepare an effective-interest amortization table for the bond through the first three inferest payments. Round amounts to the nearest dollar. 3. Record McNeil Corporation's issuance of the bonds on January 1, 2022, and payment of the first semiannual interest amount and amortization of the bond premium on June 30, 2022. Explanasons are not required. (Fecord debits first, then credits. Exclude explanations from ary joumal entries.) Start by recording the issuance of bonds on January 1, 2022. Record the payment of the first semiannual interest amount and amortization of the bond premium on June 30,2022. 1: Requirements 1. Using the PV tunction in Excel, calculate the issue price of the bonds. 2. Prepare an effective-interest amortization table for the bonds through the first three inferest payments. Round amounts to the nearest dollar. 3. Record McNeil Corporation's issuance of the bonds on January 1, 2022, and payment of the frat semiannual interest amount and amortization of the bond premium on June 30, 2022. Explanations are not required. 7. MoNeil Corporasion issued $700,000 of 16%, 10-year bonds payable on Jaruary 1,2022 . The market interest rate at the date of issuance was 14\%, and the bonds pay interest semiannually (on June 30 and December 31). MoNeil Corporation's year-end is June 30. Read the reguirements 1. 1. Using the PV function in Excel, calculate the issue price of the bonds. (Fiound your answer to the nearest whole dollar.) The issue price of the bonds is 2. Prepare an effective-interest amortization table for the bond through the first three inferest payments. Round amounts to the nearest dollar. 3. Record McNeil Corporation's issuance of the bonds on January 1, 2022, and payment of the first semiannual interest amount and amortization of the bond premium on June 30, 2022. Explanasons are not required. (Fecord debits first, then credits. Exclude explanations from ary joumal entries.) Start by recording the issuance of bonds on January 1, 2022. Record the payment of the first semiannual interest amount and amortization of the bond premium on June 30,2022. 1: Requirements 1. Using the PV tunction in Excel, calculate the issue price of the bonds. 2. Prepare an effective-interest amortization table for the bonds through the first three inferest payments. Round amounts to the nearest dollar. 3. Record McNeil Corporation's issuance of the bonds on January 1, 2022, and payment of the frat semiannual interest amount and amortization of the bond premium on June 30, 2022. Explanations are not required
