For some reason its tell me number 3 is incorrect... i do not know why.

Park Corporation is planning to issue bonds with a face value of $600,000 and a coupon rate of 7.5 percent. The bonds mature in four 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 also uses a discount account. Assume an annual market rate of interest of 8.5 percent. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided. Round your final answer to whole dollars.)

Required: 1. Prepare the journal entry to record the issuance of the bonds. (If no entry is required for a transactionlevent, select "No journal entry required" in the first account field.) view transaction list view general journal Debit Credit Date General Journal January 01 Cash 580,009 Discount on bonds payable 19,991 Bonds payable 600,000