On January 1, 2014, Park Corporation sold a $600,000, 8 percent bond issue (6 percent market rate). The bonds were dated January 1, 2014, pay interest each June 30 and December 31, and mature in five years. 1. Calculate the Issue Price of the Bond. 2. Give the journal entry to record the issuance of the bonds. 3. Give the journal entry to record the interest payment on June 30, 2014. Use effective-interest amortization