On January 1, 2017, Bobcat Company sold 12% bonds having a face value of $300,000 to yield 10% market rate. The bonds are dated January 1, 2017 and mature January 1, 2022 (5 year term), with interest payable quarterly (April 1, July 1, October 1, and January 1) each year. Instructions Prepare complete bond amortization schedules for Bobcat using the Excel templates on the following tabs. Tab 1: Assume Bobcat allocates interest and unamortized discount or premium on the EFFECTIVE-INTEREST (EI) basis. Tab 2: Assume Bobcat allocates interest and unamortized discount or premium on the STRAIGHT-LINE (SL) basis.

Effective Interest Basis

Date	Payment Number	Cash Interest Expense	Interest Expense	Premium Amortization Amount	Carrying Amount of Bonds
1/1/2017	Start
	1
	2
	3
	4
	5
	6
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	20

Straight-Line

Date	Payment Number	Cash Interest Expense	Interest Expense	Premium Amortization Amount	Carrying Amount of Bonds
	start
	1
	2
	3
	4
	5
	6
	7
	8
	9
	10
	11
	12
	13
	14
	15
	16
	17
	18
	19
	20

Please explain excel formulas used or how you solved.