E10-8 (Algo) Recording and Reporting a Bond Issued at a Discount (with Discount Account) L010-4 Park Corporation is planning to issue bonds with a face value of $740,000 and a coupon rate of 75 percent. The bonds mature in 8 years and pay interest semiannually every June 30 and December 31. All of the bonds were sold on January 1 of this year. Parkuses the effective interest amortization method and also uses a discount account Assume an annual market rate of interest of 8.5 percent (FV of S1, PV of $1. FVA of $1, and PVA of $1) (Use the appropriate factor(a) from the tables provided. Round your final answer to whole dollars.) Required: 1.82. Prepare the journal entries to record the issuance of the bonds and 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. Red 1 and 2 Req3 1.2. Prepare the journal entries to record the issuance of the bonds and interest payment on June 30 of this year. (if no entry is required for a transaction/event, select "No journal entry required in the first account feld) View transaction list View journal entry worksheet Debit No Credit General Journal Date E10-8 (Algo) Recording and Reporting a Bond Issued at a Discount (with Discount Account) LO10-4 Park Corporation is planning to issue bonds with a face value of $740,000 and a coupon rate of 25 percent. The bonds maturen years and pay interest semiannually every June 30 and December 31. All of the bonds were sold on January 1 of this year. Parkuses the effective interest amortization method and also uses a discount account. Assume an annual market rate of interest of 8.5 percent (FV of St. Evet 51. EVA of 51, and PVA of S1) (Use the appropriate factor(s) from the tables provided. Round your final answer to whole dollars.) Required: 1.82. Prepare the journal entries to record the issuance of the bonds and 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. Reg 1 and 2 Reg 3 What bonds payable amount will Park report on its June 30 balance sheet? (Enter all amounts as positive values:) PARK CORPORATION Balance Sheet (Partial) At June 30 Long-term liabilities