On June $30,2021,$ the market interest rate is $7\%.$ Score Corporation issues $$900,000$ of $11\%,10-$year bonds payable. The bonds pay interest on June $30$ and December $31.$ The company amortize 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

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$[[$Semiannual$,$Interest,$\backslash$table$[[$Score Corporation$],[$Amortization Table$]],4],[$Interest$,$Premium,Premium Account,Bond Carrying$],[$Interest Period,Payment,Expense,Amortization,Balance,Amount$]]$

Requirements

Use the PV function in Excel to calculate the issue price of the bonds.

Prepare a bond amortization table for the first four semiannual interest periods.

Record the issuance of bonds payable on June $30,2021$ ; the payment of interest on December $31,2021$; and the payment of interest on June $30,2022.$