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Park Corporation is planning to issue bonds with a face value of $760,000 and a coupon rate of 7.5 percent. The bonds mature in
Park Corporation is planning to issue bonds with a face value of $760,000 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 does not use 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.) 3. What bonds payable amount will Park report on its June 30 balance sheet? (Round your final answer to whole dollars.) Long-term liabilities PARK CORPORATION Balance Sheet (Partial) At June 30
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