* Requirements Use the PV function in Excel to calculate the issue price of the bonds. Prepare an effective-interest method amortization table for the first four semiannual interest periods. Journalize the following transactions: a. Issuance of the bonds on December 31, 2018. Credit Convertible Bonds Payable. b. Payment of interest and amortization of the bond discount on June 30, 2019. c. Payment of interest and amortization of the bond discount on December 31, 2019. d. Conversion by the bondholders on July 1, 2020, of bonds with a total face value of $1,000,000 into 60,000 shares of Herndon's $1-par common stock. Show how Hemdon would report the remaining bonds payable on its balance sheet at December 31, 2020. Print Done Requirement 1. Use the PV function in Excel to calculate the issue price of the bonds. (Round your answer to the nearest whole dollar.) The issue price of the bonds is $ Requirement 2. Prepare an effective interest method amortization table for the first four semiannual interest periods. (Round your answers to them Herndon Corporation Amortization Table Semiannual Interest Discount Discount Account Bond Carrying Interest Date Payment Interest Expense Amortization Balance Amount 12-31-2018 6-30-2019 12-31-2019 6-30-2020 12-31-2020 Requirement 3. Journalize the following transactions. (Record debits first, then credits. Exclude explanations from all journal entries.) a. Record the issuance of the bonds on December 31, 2018. Credit Convertible Bonds Payable. (Round your answers to the nearest whole dollar.) Journal Entry Debit Accounts Date Credit Choose from any list or enter any number in the input fields and then continue to the next question. . Journal Entry Accounts Debit Credit Date 2018 Dec 31 le 30, 2019. (Round your ans Accounts Payable Cash Common Stock b. Record the Convertible Bonds Payable Discount on Bonds Payable Interest Expense Date Interest Payable 2019 Paid-in Capital in Excess of Par - Common Jun 30 Premium on Bonds Payable Debit Credit c. Record the payment of interest and amortization of the bonds on December 31, 2019. (Round your Choose from any list or enter any number in the input fields and then continue to the next que esc Date Accounts Debit Credit 2020 Jul 22 ort the remaining bonds payable on its balance shee whole dollar.) Accounts payable Convertible bonds payable Current liabilities: Discount on bonds payable Premium on bonds payable ation Sheet 020 Less: Choose from any list or enter any number in the input fields and then continue to the next qu On December 31, 2018, Herndon Corporation issues 5%, 10-year convertible bonds payable with a face value of $2,500,000. The semiannual interest dates are June 30 and December 31. The market interest rate is 7%. Herndon amortizes bond discounts using the effective-interest method. Read the requirements