Brin Company issues bonds with a par value of $690,000. The bonds mature in 7 years and pay 7% annual interest in semiannual payments. The annual market rate for the bonds is 10%. (Table B.1, Table B.2, Table B.3, and Table B.4) Note: Use appropriate factor(s) from the tables provided.

Compute the price of the bonds as of their issue date. Prepare the journal entry to record the bonds issuance.

Record the issuance of the bonds for cash. Note: Enter debits before credits. \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Table Values are Based on: } \\ \hline \multicolumn{2}{|c|}{n=} & & \\ \hline \multicolumn{4}{|c|}{i=} \\ \hline Cash Flow & Table Value & Amount & Present Value \\ \hline \multicolumn{4}{|l|}{ Par (maturity) value } \\ \hline \multicolumn{4}{|l|}{ Interest (annuity) } \\ \hline Price of bonds & & & \\ \hline \end{tabular}