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please help! need to be done on excel and I need to see the formulas ( with cells and row numbers) 1. National Company issued
please help! need to be done on excel and I need to see the formulas ( with cells and row numbers)
1. National Company issued a 7.5% Z-year bond, dated January 1, 2020 with a face amount of $600,000 on January 1, 2020. The bonds mature on December 31, 2026. The market yield for bonds of similar risk and maturity was 5.5%. Interest is made semiannually on June 30 and December 31. REQUIRED: a. Determine the price of the bonds at January 1, 2020 (be certain to include all of the "Given" information as discussed in class). b. Prepare a bond amortization table using the effective interest method (as reviewed in class), and make certain to obtain totals for the columns of Cash Interest Paid, Interest Expense, and Premium Amortization. c. Prepare the journal entry to record their issuance by National Company on January 1, 2020. d. Prepare the journal entry recording the first interest payment on June 30, 2020. e. Prepare the journal entry recording the interest payment on December 31, 2020. f. Prepare journal entries at maturity on December 31, 2026 Step by Step Solution
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