The Balloon, Inc. Company issued 10% bonds, dated January 1, with a face amount of $80 million on January 1, 2021. The bonds mature on December 31, 2030 (10 years). For bonds of similar risk and maturity, the market yield is 12%. Interest is paid semiannually on June 30 and December 31.

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1. Determine the price of the bonds at January 1, 2021
2. Prepare the journal entry to record their issuance by Balloon, Inc. (the bond) issuer on January 1, 2021, interest on June 30, 2021 and interest on December 31, 2021 (at the effective rate).
3. Prepare amortization table IN EXCEL

PLEASE DO IN EXCEL