Park Corporation is planning to issue bonds with a face value of $730,000 and a coupon rate of 75 percent. The bonds mature in 6 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 does not use 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 St (Use the appropriate factor(s) from the tables provided.) E10-9 Part 1 Required: 1. Prepare the journal entry to record the issuance of the bonds. (If no entry is required for a transaction/event, select "No jour entry required" in the first account field. Round your final answer to whole dollars.) View transaction list Journal entry worksheet Record the issuance of bonds. Note: Enter debits before credits. Date General Journal Debit Credit January 01 Record entry Clear entry View general journal Prev 1 2 3 of 5 earch E10-9 Part 2 2. Prepare the journal entry to record the interest payment on June 30 of this year. (If no entry is ree select "No journal entry required" in the first account field. Round your final answer to whole doll View transaction list Journal entry worksheet Record the payment of interest on June 30 using the effective interest amortization method. Note: Enter debits before credits. General Journal Debit Credit Date June 30 Record entry Clear entry View general journal E10-9 Part 3 3. What bonds payable amount will Park report on its June 30 balance sheet? PARK CORPORATION Balance Sheet (Partial) At June 30 Long-term liabilities