On December 31, 2021, Herndon Corporation issues 7\%, 10-year convertible bonds payable with a face value of $4,000,000. The semiannual interest dates are June 30 and December 31. The market interest rate is 12%. Hemdon amortizes bond discounts using the effective-interest method. 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 borids is Requirement 2. Prepare an eflective-interest method amortization table for the first four semiannual inferest periods. (Round your answers to the nearest whole dollar.) On December 31,2021 , Herndon Corporation issues 7%,10-year convertible bonds payable with a face value of $4,000,000. The semianinual interest dates are June 30 and December 31. The market interest rate is 12%. Hemdon amortizes bond discounts using the effective-interest method. Read the reavirements. Requirement 3. Joumalize the following transactions. (Record debits first, then credits. Excludo explanations from all journal antries.) a. Record the issuance of the bonds on December 31, 2021. Credit Convertble Bonds Payable. (Round your aniwors to the nearest whole dollar.) On December 31,2021 . Herndon Corporation issues 7%, 10-year convertible bonds payable with a face value of $4,000,000. The semiannual interest dates are June 30 and December 31. The market interest rate is 12%. Hemdon amortizes bond discounts using the effective-interest method. Read the requirements. On December 31, 2021, Herndon Corporation issues 7\%, 10 -year convertible bonds payable with a face value of $4,000,000. The semiannual interest dates are June 30 and December 31 . The market interest rate is 12%. Hemdon amortizes bond discounts using the eflective-interest method. Read the cequirments. c. Record the payment of interest and amortization of the bonds on December 31,2022 . (Round your answers to the nearest whole dollar.) d. Record the conversion by the bondholders on July 1, 2023, of bonds with a total face value of $1,600,000 into 70,000 shares of Herndon's $1-par common stock. (Round your anowers to the nearest whole dolar.) On December 31,2021 , Herndon Corporation issues 7%,10-year convertible bonds payable with a face value of $4,000,000. The semiannual interest dates are June 3 and December 31 . The market interest rate is 12%. Herndon amortizes bond discounts using the effective-interest method. Read the d. Record the conversion by the bondholders on July 1,2023 , of bonds with a total face value of $1,600,000 into 70,000 shares of Herndon's $1-par common stock. (Round your answers to the nearest whole dollar.) Requirement 4. Show how Herndon would report the remaining bonds payable on its balance sheet at December 31.2023 . (Calculate the discount by multiplying the discount caiculaisd in the ongical amorization table by the traction of bonds remaining. Round your answers to the nearest whole dollar.) Herndon Corporation Partial Ealance sheet Decumber 31,2023 On December 31,2021 , Herndon Corporation issues 7%,10-year convertible bonds payable with a face value of $4,000,000. The semiannual interest dates are June 30 and December 31. The market interest rate is 12%. Herndon amortizes bond discounts using the effective-interest method. Read the requirements. Requirement 4. Show how Herndon would report the femaining bonds payable on its balance sbeot at Docember 31, 2023. (Calculate the discount by multiplying the discount calculated in the original amortization tablo by the fraction of bonds remaining. Round your answers to the nearest whole doltar) Requirements 1. Use the PV function in Excel to calculate the issue price of the bonds. 2. Prepare an effective-interest method amortization table for the first four semiannual interest periods. 3. Journalize the following transactions: a. Issuance of the bonds on December 31, 2021. Credit Convertible Bonds Payable. b. Payment of interest and amortization of the bond discount on June 30 . 2022. c. Payment of interest and amortization of the bond discount on December 31, 2022. d. Conversion by the bondholders on July 1, 2023, of bonds with a total face value of $1,600,000 into 70,000 shares of Herndon's $1-par comenon stock. 4. Show how Hemdon would report the remaining bonds payable on its balance sheet at December 31, 2023