Rangel Corporation issued $640,000 of 7%, 15-year bonds payable on March 31, 2022. 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 while 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. Discount Bond Semiannual Infos Interest Discount Account Carrying Introst Date Payment Expense Amortization Balance Amount Mar 31.2022 Sep 30, 2022 Mar 31.2023 S 30.2023 3. Record Ranpal Corporation's issuance of the bonds on March 31, 2022, and payment of the first semiannual interest amount and amortization of the bond discount on September 30, 2022. (Record debits first, then credit Exclude explanations from any journal entries.) Start by recording the issuance of bonds on March 31, 2022 Journal Entry Date Accounts Debit Credit 31 Now record the payment of the first semiannual interest amount and amortization of the bond discount on September 30, 2022 Journal Entry Accounts Date Debit redit 500 30