Question: please help on excel sheet D E F G H 1 Carnegie Hall is building an amphitheatre at a cost of $5,600,000. It received a
D E F G H 1 Carnegie Hall is building an amphitheatre at a cost of $5,600,000. It received a down payment of $800,000 from local government to support the project, and now needs to borrow $5,000,000 to complete the project. It therefore decides to issue $5,000,000 of 8%, 20-year bonds. These bonds were issued on January 1, 2019, and pay interest annually on each January 1. The bonds yield 10%. Instructions (a) Calculate the issue price of the bond (b) Prepare the journal entry to record the issuance of the bonds and the related bond issue costs of $50,000 incurred on January 1, 2019. (c) Prepare a bond amortization schedule up to and including January 1, 2023, using the effective-interest method. (d) Prepare the journal entries for 2019 and 2020. Bond issues costs are amortized on a straight-line basis. (e) Prepare the Liability section (both current and non-current) of the balance sheet at 12/31/20. Round all amounts to the nearest dollar
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