At the beginning of 2021 Lulu company received $95,158 cash instead of issuing bonds at 10% market rate and 5% of stated rate. The mature date is 1/1/ 2050.

Instruction: Use Excel

1-Calculate the face value for the Bonds. (2 points)

2-Calculate the discount/premium if any (2 points)

3-Prepare the amortization schedule. (4 points)

4-Prepare the journal entries for 2021. (2 points)