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please do all parts Hened the 1. Use the PV function in Excel to calculate the issue price of the bonds. 2. Prepare an effective-interest
please do all parts
Hened the 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 $1,000,000 into 70,000 shares of Herndon's $1-par common stock. 4. Show how Herndon would report the remaining bonds payable on its balance sheet at December 31,2023. 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 effective-interest method amortization table for the first four semiannual interest neriods. IRound your answers fo the nearest whofe dh Requirement 3. Journalize the following transactions. (Record deblts first, then credits. Exclude explanations from all journal entries.) a. Record the issuance of the bonds on December 31, 2021. Credit Convertible Bonds Payable. (Round your answers to the nearest whole dollar.) b. Record the payment of interest and amortization of the bonds on June 30,2022 . (Round your answers to the nearest whole dollar.) c. Record the payment of interest and amortization of the bonds on December 31,2022 . (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. remaining. Round your answers to the nearest whole dollar.) Step by Step Solution
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