Team Ltd. an authorized to use $3.000.000 of 5%, 10-year bonds payable. On December 31, 2018, when the market interest rate 8%, the company issues $2,400,000 of the bands Team amortizes bond discount using the effective-Interest method. The semiannual interest dates are June 30 and December 31 Read the requirements Requirement 1. Use the PV function in Excel to calculate the issue price of the bonds. (Round your answer to the nearest whole dolar) The issue price of the bonds is Requirement 2. Prepare a bond amortization table for the first year of the bonds, Round your answers to the naturst whole do Team Ltd. Amortization Table Interest Discount Account Bond Coming Serial Interest Discount el 1. Use the PV function in Excel to calculate the issue price of the bonds. 2. Prepare a bond amortization table for the first year of the bonds. 3. Record the issuance of the bonds payable on December 31, 2018; the first semiannual interest payment on June 30, 2019; and the second payment on December 31, 2019. Onta Print Done Amortization Table Interest Discount Semiannual Interest Payment Discount Account Bond Carrying Interest Date Expense Amortization Balance Amount Dec 31, 2018 Jun 30, 2019 Dec 31, 2019 Date Journal Entry Accounts Debit Credit Dec 31 Record the first semiannual interest payment on June 20