please use excel functions, and include all formulas.

\begin{tabular}{|l|l|l|l|} \hline 1 & A City is building a new sports arena. Information concerning the arena follows. \\ \hline 2 & Cost of arena \\ \hline 3 & Borrowing needed to complete the project & $2,500,000 \\ \hline 5 & Issuance of bonds on January 1,200 & 2,000,000 \\ \hline \multicolumn{1}{|l|}{ Interest is paid annually on January 1 each year. } \\ \hline 7 & Stated interest rate on bonds & 2,000,000 \\ \hline 8 & Term of bonds in years & 10.50% \\ \hline 9 & Yield on bonds & 10 \\ \hline 10 & \end{tabular} Note: Excel uses more decimal places than present value determine using tables. Both answers are acceptable. Presentvalue(Sellingprice)ofthebondsusingExcelPVfunction=SELLINGPRICE=$2,061,445.67 (a) Prepare the journal entry to record the issuance of the bonds and the related bond issue costs incurred on January 1,200. INCLUDE COMPUTATIONS OF AMOUNTS! \begin{tabular}{|c|c|c|c|} \cline { 3 - 4 } \multicolumn{2}{c|}{} & Debit & Credit \\ \hline Jan. 1 & Cash & $2,061,445.6 & \\ \hline & Premium on Bonds Payable & & $61,445.67 \\ \hline & Bonds Payable & & 2,000,000 \\ \hline & & & \\ \hline \end{tabular} (b) Prepare a bond amortization schedule up to and including January 1,204, using the effective interest method. INCLUDE COMF (c) Assume that on July 1, 20X4 they retires the bonds at a cost of $2,130,000 plus accrued interest. Complete the following table Carrying value as of January 1,204 Amortization of bond from 1/1/X4-7/1/XA Carrying value as of July 1,204 Reacquisition price Gain (Loss) on redemption of bonds \begin{tabular}{|r|} \hline 2,043,552.61 \\ \hline 2565.790591 \\ \hline$2,040,986.82 \\ \hline$2,130,000 \\ \hline$89,013 \\ \hline \end{tabular} Entry to redeem (retire bonds) include computations