E10-14 (Algo) (Chapter Supplement) Recording and Reporting a Bond Issued at a Premium (without Premium Account) LO10-5 Park Corporation is planning to issue bonds with a face value of $2,001,000 and a coupon rate of 10 percent. The bonds mature in 15 years and pay interest semiannually every June 30 and December 31. All of the bonds were sold on January 1 of this year. Park uses the effective-interest amortization method and does not use a premium account. Assume an annual market rate of interest of 8.5 percent. (FV of $1, PV of $1, EVA of $1, and PVA of $1) Note: Use appropriate factor(s) from the tables provided. Required: 1. and 2. Prepare the journal entry to record the issuance of the bonds and the interest payment on June 30 of this year. 3. What bonds payable amount will Park report on its June 30 balance sheet? Complete this question by entering your answers in the tabs below. Required 1 and 2 Required 3 Prepare the journal entry to record the issuance of the bonds and the interest payment on June 30 of this year. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your intermediate calculations and final answers to whole dollars. View transaction list View journal entry worksheet No Date General Journal 1 January 011 Cash Bonds payable Debit Credit 2,252,811 Required 1 and 2 Required 3 > 2,252,811 E10-14 (Algo) (Chapter Supplement) Recording and Reporting a Bond Issued at a Premium (without Premium Account) LO10-5 Park Corporation is planning to issue bonds with a face value of $2,001,000 and a coupon rate of 10 percent. The bonds mature in 15 years and pay interest semiannually every June 30 and December 31. All of the bonds were sold on January 1 of this year. Park uses the effective-interest amortization method and does not use a premium account. Assume an annual market rate of interest of 8.5 percent. (FV of $1. PV of $1. EVA of $1, and PVA of $1) Note: Use appropriate factor(s) from the tables provided. Required: 1. and 2. Prepare the journal entry to record the issuance of the bonds and the interest payment on June 30 of this year. 3. What bonds payable amount will Park report on its June 30 balance sheet? Complete this question by entering your answers in the tabs below. Required 1 and 21 Required 3 What bonds payable amount will Park report on its June 30 balance sheet? Note: Round your intermediate calculations and final answers to whole dollars. Long-term liabilities PARK CORPORATION Balance Sheet (Partial) At June 30 Bonds payable