On January 1 of this year, Victor Corporation sold bonds with a face value of $1,530,000 and a coupon rate of 7 percent. The bonds mature in four years and pay interest semiannually every June 30 and December 31. Victor uses the straight-line amortization method and also uses a premium account. Assume an annual market rate of interest of 4 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 transaction/event, select "No journal entry required" in the first account field.)

Journal entry worksheet Record the interest payment on June 30, using straight-line amortization Note: Enter debits before credits. Date General Journal Debit Credit June 30 Record entry Clear entry View general journal 3. What bonds payable amount will Victor report on its June 30 balance sheet? VICTOR CORPORATION Balance Sheet (Partial) At June 30 Long-term liabilities