On January $1,2025,$ Craig Industries issued the following bond.

a$)$ Indicate whether the bond will sell at par, a premium or at a discount as of January $1,2025.(2$ points$)$

$\backslash$table$[[$Face $($Par$)$ Value Issued,Market rield Bate,Stated Compon Tate,Term,Interest Pald $($Cempeonded$),$Sell at Par, Premiam, or Bisceunt$],[$$$125,000,000,7\mathrm{.}4\%,7\mathrm{.}2\%,20$ yrs$,$Semi$-$annually,$]]$

b$)$ Use Excel to determine the bond proceeds and quoted bond price.

Enter the relevant time$-$value of money factors in the table provided. $(6$ points$)$

Enter your results in the second table. Provide the Excel formula the you used to compute the bod proceeds and the supporting calculation for the quoted bond price. $(4$ points$)$

$\backslash$table$[[$Rate$,$Nper,PMT$,$FV$],[,,,,$Type$],[,,,,]]$

$\backslash$table$[[,$Your Answer,Excel Formula$/$Supporting Calculation$],[$Bond Proceeds,,$],[$Quoted Bond Price,,$]]$Problem Set as

c$)$ Prepare the entry to recond the issuance of the bonds on January $1,2025.(4$ polata$)$

$\backslash$table$[[$DATE$,$ACCOUNT NAMES,DEBIT,CREDIT$],[,,,],[,,,],[,,,],[,,,]]$

d$)$ Prepare the partial amortization schedule for the first two interest periods in $2025.(8$ peinta$)$

$\backslash$table$[[$Time Period,Interest Expense,Stated Coupon Interest Paid,Disceunts $($Premium$)$ Amortisation,Carrying Value of Bonds$],[1/12025,,,,],[6/30/2025$ Calculations,,,,$],[$Ansounts$,,,,],[12/31/2025$ Calculations,,,,$],[$Ameunts$,,,,]]$

e$)$ Prepare the entry to record the interest payment on the bonds on June $30,2025.(3$ pelinte$)$

$\backslash$table$[[$DATE$,$ACCOUNT NAMES,DEBIT,CREDIT$],[,,,],[,,,],[,,,]]$Set $95$

Pape $17$ of $17$

Frepare the entry to recoed the interest payment on the bonds on December $31,2625.[3$ polints$)$

$\backslash$table$[[$DATE$,$ACCOUNT NAMES,DEBIT,CREDIT$],[,,,],[,,,],[,,,]]$

$\backslash$table$[[\backslash$table$[[$Bonds$],[$Pryable$]],]]$

Post the effects of the bond entries in the $T-$accounts above to compute their balances on January $1.$ June $30,$ and December $31,2025.(3$ points$)$

Use the balances in the T$-$accounts above to compute the carrying value of the bonds at January $1.$ June $30,$ and December $31,2025.(2$ pointa$)$

$\backslash$table$[[,1/1/2025,6/30/2025,12/31/2025],[$Bonds Payable,,,$],[$Discount on Bonds Payable,,,$],[$Carrying Value,,,$]]$