Bonds Payable Master Corporation Bonds On December 31, 2020 Master Corporation issued $130,043!) of 10%= 5year bonds. December 31, 2020 Master Corporation BONDS PAYABLE $l'CIDD 10% Interest payable (3) annually on Dec. 31 Bonds due December 31. 2025 Required: 1. Calculate the proceeds from the bond issuance; the market rate is 8%. You may use tables om chapter 6, a nancial calculator= or an excel spreadsheet lnction. In any case, round to the nearest dollar. 2. Prepare an amortization schedule. Round all amounts to the nearest dollar and use a comma separator for thousands. 3. Prepare all journal entries for issuance of the bonds in 243243: payments of interest and amortization each December 31, and payment of the face amount on December 31= 2025