On June 30, 2021, the market interest rate is 9%. Ramsey Corporation issues $550,000 of 12%, 20-year bonds payable. The bonds pay interest on June 30 and December 31. The company amortizes bond premium using the effective-interest method. Read the requirements. 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 Requirements Requirement 2. Prepare an amortization table for the first four semiannual interest periods. Enter the issue date information, then complete the table for each of the following semiannual interest periods. (Round your answers to 1. 2. Use the PV function in Excel to calculate the issue price of the bonds. Prepare a bond amortization table for the first four semiannual interest periods. Ramsey Corporation Amortization Table Interest Premium Expense 3. Interest Payment Premium Account Amortization Balance Bond Carrying Amount Record the issuance of bonds payable on June 30, 2021; the payment of interest on December 31, 2021; and the payment of interest on June 30, 2022. Semiannual Interest Period Jun 30, 2021 Dec 31, 2021 Jun 30, 2022 Print Done Dec 31, 2022 Jun 30, 2023 Requirement 3. Record the issuance of bonds payable on June 30, 2021; the payment of interest on December 31, 2021; and the payment of interest on June 30, 2022. (Record debits first, then credits. Exclude explanations from all journal entries.) Start by recording the issuance of the bonds on June 30, 2021.