Kieso Inc. has issued two types of debt on January 1, 2020, the start of the companys fiscal year (January to December)

1. $60 Million par of 10 year, zero-coupon bonds at a price to yield 12% per year.

2. $30 million, 10-year, 10% unsecured bonds, interest payable semi-annually, on July 1 and January 1, to yield 12%.

Instructions:1.Prepare Bond Amortization Schedules for both bonds using Straight-line and Effective Interest Method. Please make sure to use cell-formula2. Prepare Journal entries for both bonds for 2020, 2021, and 2022 using Effective Interest Method of amortization. Journal entries are to be made on December 31 for Bonds # 1 and for Bonds #2, on July 1, December 31, and January 1.