Park Corporation is planning to issue bonds with a face value of $$2,017,000$ and a coupon rate of $10$ percent. The bonds mature in $5$

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 premium account. Assume an annual market rate of interest of $8\mathrm{.}5$

percent. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ and PVA of $$1)$

Note: Use appropriate factor$($s$)$ from the tables provided.

Required:

and $2.$ Prepare the journal entry to record the issuance of the bonds and the interest payment on June $30$ of this year.

What bonds payable amount will Park report on its June $30$ balance sheet?

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Required $1$

and $2$

Prepare the journal entry to record the issuance of the bonds and the interest payment on June $30$ of this year.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Round your intermediate

calculations and final answers to whole dollars.

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What bonds payable amount will Park report on its June $30$ balance sheet?

Note: Round your intermediate calculations and final answers to whole dollars.