You must complete your work in Excel using formulas. Please submit your Excel file as an attachment to the link provided in the classroom.

Situation: BU Curriculum Corporation issued $800,000 of 8% bonds on September 1, 2020, due on September 1, 2025. The interest is to be paid twice a year on March 1 and September 1. The bonds were sold to yield 10% effective annual interest. BU Curriculum Corporation closes its books annually on December 31.

(a) Complete an amortization schedule for the above bond (for all periods) in a similar format as below using Excel. You can round to the nearest dollar or penny. Use the effective-interest method. Date Credit Cash Debit Interest Expense Credit Bond Discount Carrying Amount of Bonds Sep. 1, 2020 Use the NPV or PV formula in Excel; see posted bond excel sheet in the classroom Mar. 1, 2021 .continue schedule (use Excel)

(b) Prepare the journal entries for the following: 1. September 1, 2020 bond issue 2. Adjusting entry for December 31, 2020 (adjusting entry should cover 4 months) 3. March 1, 2021 entry 4. September 1, 2021 entry 5. Adjusting entry from December 31, 2021 6. March 1, 2022 entry

(c) Compute the interest expense to be reported in the income statement for the year ended December 31, 2020 and December 31, 2021.

(d) Complete an amortization schedule for the above bond (for all periods) using the straight-line amortization method (entries are not required).