Mo's Motor Corp, issued $380,000 of 7%, 5-year bonds on April 1, 2021. Interest is payable semi-annually on April 1 and October 1. On April 1, 2023, immediately after making and recording the semi-annual interest payment, Mo's redeemed the bonds. Below is a partial amortization schedule for the first few years of the bond issue. Mo's Motor Corp. Bond Discount Amortization Schedule Interest Payment Interest Expense Bond Amortized Cost Interest Period Amortization 01-Apr. 2021 $364,589.30 $ 13,300.00 01 Oct. 2021 $ 14,583.57 $1.283.57 365,872.87 13,300.00 14.634.91 1.334.91 01 Apr. 2022 367,207.78 13,300.00 01-Oct. 2022 14,688.31 1.388.31 368,596.09 13,300.00 01 Apr. 2023 14,743.84 1.443.84 370,039.93 Using the above Wiley Plus question please enter the appropriate information from the question into the appropriate boxes below: Data from the WileyPlus Assignment Question 12 Date of the bond is issued April 1, 2023 Face amount of band $ 380,000.00 Coupon (stated) rate 7.00% 14 Term of the bond (in years) Selling issue price of the bond $364,589.30 8.00% Calculate the market rate of interest for this bond. (Round your answer to 2 decimal places,.,2.75%) 1 marks Check the calculation for the interest rate on the bond using the Excel RATE function and the bond information from the question Bonus Check the calculation for the interest rate on the bond using the Excel RATE function and the bond information from the question Bonus Track Starting with April 1, 2021. prepare and complete the bond amortization schedule-CALCULATE ALL CELL AMOUNTS USING FORMULAS- do not retype the amounts from above. [3 marks] Amount of amortition of discount Date of payment Interest Payment Interest Lxpense premium Bond at Amortired Cost April 1, 2001 $ 161.5.30 October 1, 2021 S 13,300 $ 14 583.57 $ 1,283.57 365,872.87 April 1, 2022 13,300 $ 14,63491 S 1.33451 S 367,207.78 October 1, 2022 13,300S 14.668.31 $ 1,388.31 $ 368,596.09 April 1, 202315 13,300 S 14,743.81 $ 1.443.84 170,0193 October 1, 2023 13,300 April 1, 20245 13,300 October 1, 2020 S 13,300 April 1, 2014 13.100 October , 2025 11100 Ap 1, 2025 13.300 October 1, 21255 13,300 mark Calculate the selling price of the bonds as a percentage of face value was the bond sold at a premium or discount? (Round your answer to 2 decimal places, e.2.15$) 2 marks 4.06% Prepare the journal entry to record the issuance of the Bonds and the first interest payment. (4 marks) Date Account Name Debit Credit October 1, 2021 interest expense interest payable discount in issue of bond Prepare the journal entry required at December 31, 2022 assuming this the company's year end (3 marks) and the entry at April 1, 2023 (3 marks) Date Account Name Debit Credit December 31, 2022 interest expense interest payable discount on issue of bond April 1, 2023 interest expense interest payable cash Demonstrate what would be reported on the Balance sheet of the Company at December 31, 2022 with respect to these bonds be very specific with respect to assification, account names and amounts that would be reported. (4 marks) Mo's Motor Balance sheet 31-Dec-22 Non current liability bond payable Current liability interest payable