explain each stop

49. BOND AMORTIZATION SCHEDULE Atlas Airlines, Inc., issued $600,000 of an 8 3/8% (0.08375), five-year bonds payable when the market interest rate was 9 1/2% (0.095). Atlas pays interest annually at year end. The issue price of the bonds was $574,082. Create a spreadsheet model to prepare a schedule to amortize the discount on these bonds. Use the effective-interest method of amortization. Round to the nearest dollar, and format your answer as follows. B DE F 11 Output Area: 12 Bond 13 Interest Interest Discount Discount Carrying 14 Date Payment Expense Amortization Balance Amount 15 1-1-x1 $574,082 16 12-31-x1 $ $ $ $ 17 12-31-x2 18 12-31-3 19 12-31-4 20 12-31-x5 Use the following formulas: Interest payment (B16): Interest expense (C16): =600000*.08375 F15,095 Spreadsheet Assignments Discount amortization (D16): =C16-B16 Discount balance (E15): 600000-F15 Bond carrying amount (F16): =F15+D16