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im confused on what im doing wrong Park Corporation is planning to issue bonds with a face value of $2,000,000 and a coupon rate of

im confused on what im doing wrong
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Park Corporation is planning to issue bonds with a face value of $2,000,000 and a coupon rate of 10 percent. The bonds mature in years and pay interest semiannually every June 30 and December 31 . All of the bonds were sold on January 1 of this year. Park use the effective-interest amortization method and also uses a premium account. Assume an annual market rate of interest of 8.5 perce (FV of \$1, PV of \$1. FVA 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? (x) Answer is not complete. 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/event, select "No journal entry required" in the first account field. Complete this question by entering your answers in the tabs below. What bonds payable amount will Park report on its June 30 balance sheet? Note: Round your final answers to whole dollars. Present Value of $1 Present Value of $1 8.52=4.25102=20 Present Value: 2000000(0.43499)=869,980 Interest: 200000010%21=100,000100,00013.29437=1,329,437 Issue Price: 100000+1329437=14,29,437 Premium Bond: 1,429,4372,000,000=370,563

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