Park Corporation is planning to issue bonds with a face value of $670,000 and a coupon rate of 7.5 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 also uses a discount account. Assume an annual market rate of interest of 8.5 percent. (EV of $1. PV of $1. EVA 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.) View transaction list Journal entry worksheet < 1 Record the issuance of bonds. < 1 Record the interest payment on June 30 using effective-interest amortization. Note: Enter debits before credits. Date General Journal Debit Credit June 30 Interest expense Cash Discount on bonds payable View general journal Record entry Clear entry > 3. What bond payable amount will Park report on its June 30 balance sheet? (Enter all amounts with a positive sign Long-term liabilities PARK CORPORATION Balance Sheet (Partial) At June 30 Discount on bonds payable Bonds payable