Complete the following bond problem from chapter 14 in Excel or Google Sheets. Upload your completed Excel file or upload the link to your Google Sheets to the D2L Assignments dropbox by the due date. Velvet Corporation issues $1,000,000 of 3%, eight-year bonds dated January 1, 2020. The bonds pay interest on June 30 and December 31. The annual market rate is 3.75% on the issue date. I a. Determine the selling price of the bonds on January 1, 2020. (Hint: Use the 4 steps from the Week 4 breakout activity.) b. Prepare an effective interest amortization table in Excel or Google Sheets for this bond using the following format: Date Cash Interest Payment Interest Expense Discount Amortized Discount Balance Bond Carrying Amount $ $ 1/01/20 6/30/20 12/31/20 6/30/21 12/31/21 6/30/22 12/31/22 6/30/23 12/31/23 6/30/24 12/31/24 6/30/25 12/31/25 6/30/26 12/31/26 6/30/27 12/31/27 c. Prepare the journal entries required of Velvet Corp. for each of the following dates: i. January 1, 2020 (to record the cash received, the bond payable, and the discount) ii. June 30, 2020 (to record the first interest payment) iii. December 31, 2020 (to record the second interest payment) iv. December 31, 2027 (to record the final interest payment and the repayment of the $1,000,000 bonds payable)