I really need the excel formulas thx

Bond Homework Problems Do all work in Excel and use formulas wherever possible. Submit the HW in eRacer. w N 2 3 4 LO 5 6 7 PROBLEM ONE On January 1, 20x1, your company issued the following bonds: Face amount Maturity in years Interest rate Interest paid on January 1 each year Costs incurred to issue the bonds Market interest rate on issue date 2,000,000 15 5% 8 9 9 10 45,000 4% 11 12 13 REQUIRED: Prepare the journal entry to issue the bonds on January 1, 20X1. a. 14 b. 15 c. Prepare the journal entry to pay the annual interest payment on January 1, 20X2 as well as any end-of-year required entries for 20x1. The bonds are called in at a price of 101 on January 2, 20x7. Prepare the journal entry to record this. Now assume the market interest rate on the issue date is 6%. Prepare the journal entries in a, b, and c above using this rate. 16 d. 17 18 18 19 20 21 PROBLEM TWO Your company issued the following bond: Face amount Maturity in years Interest rate payable on January 1 every year Market interest rate at issuance 22 23 500,000 10 5% 5% 24 25 26 The bonds were issued on June 1, 20X1 27 28 a. 29 REQUIRED: Prepare the journal entry to issue the bonds on June 1, 20x1. Prepare the journal entry to record any end- of-year required entries. Prepare the journal entry to record the first interest payment on January 1, 20X2. b. 30 C. 31 32 33 34 35 36 37 38