Accounting On January 1, 2014, Park Corporation sold a $600,000, 7.5 percent bond issue (8.5 percent market
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Accounting
| On January 1, 2014, Park Corporation sold a $600,000, 7.5 percent bond issue (8.5 percent market rate). The company does not use a discount account. The bonds were dated January 1, 2014, pay interest each June 30 and December 31, and mature in four years. (FV of $1,PV of $1,FVA of $1, andPVA of $1)
journal entry at issue, journal entry on june 30th for interest
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