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If this can all be done in excel would love to know the steps for excel. I was able to figure out the PV function

image text in transcribedIf this can all be done in excel would love to know the steps for excel. I was able to figure out the PV function but stumped from there

Champs Ltd. is authorized to issue $3,000,000 of 5%, 10-year bonds payable. On December 31, 2018, when the market interest rate is 8%, the company issues $2,400,000 of the bonds. Champs amortizes bond discount using the effective-interest method. The semiannual interest dates are June 30 and December 31. Read the requirements. Requirement 1. Use the PV function in Excel to calculate the issue price of the bonds. (Round your answer to the nearest whole dollar.) The issue price of the bonds is $ 1,910,748 Requirement 2. Prepare a bond amortization table for the first year of the bonds. (Round your answers to the nearest whole dollar.) Champs Ltd. Amortization Table Semiannual Interest Interest Discount Discount Account Bond Carrying Interest Date Payment Expense Amortization Balance Amount Dec 31, 2018 Requirements 1. Use the PV function in Exce to calculate the issue price of the bonds. 2. Prepare a bond amortization table for the first year of the bonds. 3. Record the issuance of the bonds payable on December 31, 2018; the first semiannual interest payment on June 30, 2019; and the second payment on December 31, 2019. Print Done

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