Q1 - IOT Business Management Consulting Company is a very well-known consulting company. You are lucky enough to be working as an accountant for that company. the board of director considers financing an expansion and borrows $400,000 from investors by issuing bonds, which involves a 4 years dept period with annual payments, with initial bond stated rate of 8%, and a market interest rate of 8.5%. As an expert in the field, John Smith, the manager, asked for your financial modeling and preparing a bonds amortization schedule Instructions: 1. Identify the bonds face value. 2. Identify the stated and market interest rate. 3. Calculate annual interest payment 4. Use Excel's functions feature to calculate bonds proceeds (present value) (Do not forget the mimas sign in front of PV to make the proceeds positive.) 5. Calculate the bond discount or premium 6. Create a bond amortization schedule to summarize interest payments, interest expense, bonds amortization, and remaining carrying value. 7. Q2 - Prepare the Journal entry on the date of issuance the bonds