Rangel Corporation issued $540,000 of 7%, 15-year bonds payable on March 31, 2019. The market interest rate at the date of issuance was 8%, and the bonds pay interest semiannually. Rangel Corporation's year-end is March 31. Read the requirements. 1. Using the PV function in Excel, calculate the issue price of the bonds. (Round your answer to the nearest whole dollar.) The issue price of the bonds is $ 2. Prepare an effective-interest amortization table for the bond through the first three interest payments. Round amounts to the nearest dollar. Semiannual Interest Interest Payment Discount Amortization Discount Account Balance Bond Carrying Amount Interest Date Expense Mar 31, 2019 Sep 30, 2019 Mar 31, 2020 Sep 30, 2020 3. Record Rangel Corporation's issuance of the bonds on March 31, 2019, and payment of the first semiannual interest amount and amortization of the bond discount on September 30, 2019. (Record debits first, then credits. Exclude explanations from any journal entries.) Start by recording the issuance of bonds on March 31, 2019. Journal Entry Accounts Date Debit Credit Mar 21 Choose from any list or enter any number in the input fields and then continue to the next question. Rangel Corporation issued $540,000 of 7%, 15-year bonds payable on March 31, 2019. The market interest rate at the date of issuance was 8%, and the bonds pay interest semiannually. Rangel Corporation's year-end is March 31. Read the requirements. Sep 30, 2020 3. Record Rangel Corporation's issuance of the bonds on March 31, 2019, and payment of the first semiannual interest amount and amortization of the bond discount on September 30, 2019. (Record debits first, then credits. Exclude explanations from an journal entries.) Start by recording the issuance of bonds on March 31, 2019. Journal Entry Date Accounts Debit Credit Mar 31 L Now record the payment of the first semiannual interest amount and amortization of the bond discount on September 30, 2019. Journal Entry Date Accounts Debit Credit Sep 30 L