Q.7 (16 marks) Lasso Green Ltd. is incorporated in Alberta and specializes in carbon sequestration (to reduce greenhouse gases in the atmosphere). To acquire a piece of land in central Alberta where carbon would be sequestered the company issued $300,000, 5% bonds on December 31, 2013, to yield 4% per year. The bonds would be outstanding for 8 years from the issuance date, and pay interest semi-annually on June 30 and December 31. 1. How much was raised by Lasso Green from the bond issue? (You must use present value factors from the attached tables for calculations to receive credit) 2. Prepare an amortization table using the effective-interest method of amortization. Complete the first five payments only. 3. Prepare journal entries for the bonds on June 30 and December 31, 2014