On June $30,2021,$ the market interest rate is $5\%.$ Victory Corporation issues $$600,000$ of $6\%,30-$year bonds payable. The bonds pay interest on June $30$ and December $31.$ The company amortizes bond premium 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 bonds is $ $692,726.$

Requirement $2.$ Prepare an amortization table for the first four semiannual interest periods.

Enter the issue date information, then complete the table for each of the following semiannual interest periods. $($Round your answers to the nearest whole dollar.$)$

$\backslash$table$[[\backslash$table$[[$Semiannual$],[$Interest Period$]],\backslash$table$[[$Interest$],[$Payment$]],\backslash$table$[[$Victory Corporation$],[$Amortization Table$]],\backslash$table$[[$Premium Account$],[$Balance$]],],[,$Premium,Bond Carrying$],[$Expense$,$Amortization,$],[$Jun $30,2021,,\text{'},,,],[,,$Require,nents$],[,,\backslash$table$[[1.$ Use th$],[2.$ Prepar$],[$periods$],[3.$ Recorc$],[$interes$],[2022.]],\backslash$table$[[$W function in Excel to calculate the issue price of the bonds.$],[$bond amortization table for the first four semiannual interest$],[$is December $31,2021$ ; and the payment of interest on June $30,]]]]$