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 $2,007,000 and a coupon rate of 10 percent. The bonds mature in 15 ycars and pay interest semiannually ewery 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, FVA of \$1, and Note: Use appropriate factor(s) from the tabies 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. 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/evert, select "No journal entry required" in the first account field. Round your inten calculations and final answers to whole dollars. Journal entry worksheet reate: crier akbin parvare crecats. 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 $2,007,000 and a coupon rate of 10 percent. The bonds mature in 15 years and pay interest semiannually ewery 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, FVA of \$1, and Note: Use appropriate factor(s) from the tabies 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 payabie amount will Park report on its June 30 balance sheet? Complete this question by entering your answers in the tabs below. What bonds parable amourt will Fark report on its June 30 balance sheet? Note: Pound your intermediate calculations and final answers to whole dollars