Park Corporation is planning to issue bonds with a face value of $610,000 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. (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.&2. Prepare the journal entries to record the issuance of the bonds and interest payment on June 30 of this year. 3. What bonds payable amount will Park report on its June 30 balance sheet? Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3 What bonds payable amount will Park report on its June 30 balance sheet2 (Enter all amounts as positive values.) PARK CORPORATION Balance Sheet (Partial) At June 30 Long-term liabilities Bonds payable Park Corporation is planning to issue bonds with a face value of $610,000 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. (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.&2. Prepare the journal entries to record the issuance of the bonds and interest payment on June 30 of this year. 3. What bonds payable amount will Park report on its June 30 balance sheet? Complete this question by entering your answers in the tabs below. Reg 1 and 2 Req 1 and 2 Req3 1.82. Prepare the lournal entries to record the issuance of the bonds and interest payment on June 30 of this year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Debit Credit Date January 01 General Journal Cash Discount on bonds payable Bonds payable 610,000 2.0% 3.0% 3.75% 4.0% 7.0% Present Value of $1 Periods 1.0% 0.99010 0.98030 0.97059 0.96098 0.95147 0.94205 0.93272 0.92348 091434 0.90529 Present Value of $1 Periods 1.0% 0.98039 0.96117 0.94232 0.92385 0.90573 0.88797 0.87056 0.85349 0.83676 0.82035 0.97087 0.94260 0.91514 0.88849 0.86261 0.83748 0.81309 0.78941 0.76642 0.74409 0.96386 0.92902 0.89544 0.86307 0.83188 0.80181 077283 0.74490 0.71797 0.69202 0.96154 0.92456 0.88900 0.85480 0.82193 0.79031 0.75992 0.73069 0.70259 0.67556 0.95923 0.92013 08:3262 0.84663 0.81212 0.77901 0.74725 0.71679 0.68757 0.65954 0.95238 0.90703 0.86184 0.82270 0.78353 0.74622 0.71068 0.67684 0.64461 0.61391 0.94340 0.89000 0.89962 0.79209 0.74726 0.70496 0.66506 0.62741 0.59190 0.55829 0.93459 0.37344 0.81630 0.76290 0.71299 0.66634 062275 0.58201 0.54393 0.50835 2.0% 3.0% 3.75% SOX 6.0% 0.89632 0.88745 0.87866 0.86996 0.86135 0.85282 0.84438 0.83602 0.82774 0.81954 0.77977 0.74192 0.80426 0.78849 0.77303 0.75788 0.74301 0.72845 0.71416 0.70016 0.68543 0.67297 0.60953 0.55207 0.72242 0.70138 0.68095 0.66112 0.64186 0.62317 0.60502 0.58739 057029 055368 0.47761 0.41199 0.66701 0.64290 0.61966 0.59726 0.57568 055487 0.53481 0.51548 0.49685 0.47889 0.39838 0.33140 0.64958 062460 0.60057 0.57748 0.55526 051191 051337 0.49363 0.47464 0.45639 0.37512 030832 0.63265 0.60686 0.58212 055819 0.53562 0.51379 0.49284 0.47275 0.45148 041499 035324 02869 0.58468 0.55684 053032 0.50507 0.48102 0.45811 0.43630 041552 0.39573 037689 0.29530 023138 0.52679 0.49697 0.46884 044230 0.41727 0.39365 0.37136 0.35034 033051 0.31180 0.23300 0 17411 0.47509 0.44401 0.41496 0.38782 0.36245 0.33873 0.31657 029586 0.27651 0.25842 018425 0.13137 Present Value of $1 20.0 25.05 9.01 0.82649 0.6749 0.92593 0.85734 0.79133 0.73503 0.68058 0.63017 0.91743 0.84168 0.77218 0.70843 064993 0.59627 0.54703 0.50187 06043 142241 O 06957 075614 0.65752 057175 0449718 0,43233 01514 67319 0.65873 099345 053464 OLABI 058301 0162001 0.56447 0.51316 046551 0.42410 03320 069444 057870 0.48225 0.0018 0,33490 0.27908 0.23257 0:19381 0.16151 0.80000 0.64000 0.51200 0.40960 0.32768 0.26214 020972 016777 0.13422 010737 0.4309 63103 Present Value of Annulty of $1 1.0% Periods 3.75 7.0% 0.99010 1.97040 2.94099 3.90197 485343 5.79548 6.72819 7.65168 8.56602 9.47130 Present Value of Annuity of $1 Periods 1.0% 0.98009 1.94156 2.88388 3.80773 471346 5.60143 6.47199 7.32548 8.16224 0.97087 1.91347 2.82861 3.71710 4.57971 5.41719 6.23028 7.01969 7.78611 8.53020 0.96386 1.89287 2.78831 3.65138 4.48326 5.28507 605790 6.80280 7.52077 8.21279 0.96154 1.88609 2.77509 3.62990 445182 5.24214 6.00205 6.73274 7.43533 8.11090 0.95923 1.87936 2.76198 3.60861 442073 519974 5.94699 6.66378 7.35135 8.01089 0.95238 185941 2.72325 3.54595 4.32948 5.07569 5.78637 6.46321 7.10782 7.72173 09040 1.83339 267301 3.46511 421236 4.91732 5.58238 6.20979 6.80169 7.36009 0.93458 1.80802 2.62432 3.38721 4.10020 476654 5.38929 5.97130 6.51523 7.02358 898259 2.0% 3.75% 4.0% ON 7.00 8.76048 9.38507 10.36763 11.25508 12.13374 13.00370 13.86505 9.78585 10.57534 11.34837 12.10525 12.84926 13.57771 14.29187 14.99203 15.67846 16.35143 19.52346 22 39646 8.87979 9.52269 10.14236 10.73962 11.31530 11.87017 12.40498 12.92046 9.25262 9.95400 10.63496 11.29607 11.93794 12.56110 13.16612 13.75351 14.32380 14.87747 17.41315 19 60044 9.98565 10.56312 11.11839 11.65230 12.16567 14.71787 15.56225 16.39827 17.22601 18.04555 22.02316 25 80771 8.64354 9.25039 9.83251 10.39090 10.92652 11.44031 11.93315 12.40590 12.85938 13.29437 15.21734 16.77902 8.30641 8.86325 9.39357 9.89864 10.37966 10.8377 11.27407 11.68959 12.08532 12.46221 14 09394 15.37245 7.88687 8.38384 8.85268 9.29498 9.71225 10.10590 10.47726 1082760 11.15812 11.46992 12.78336 13.76483 7.49867 7.94269 8.35765 8.74547 9.10791 9.44665 9.76322 10.05909 10.33560 10.59401 11.65358 12.40904 12 65930 13.41731 13.89620 16.04320 17.82925 13.13394 13.59033 15.62208 17.29203 0132119 0.88496 035957 0.83333 0.90020 66810 152778 Present Value of Annuity of S1 Periods 8.0% 0.0% 0.096 1 0.92593 091743 090909 178326 75911 1.73554 1.71252 2.57710 253129 2.48685 2 44371 3.31213 3 23972 3.16987 3.10245 399271 3 88965 3.79079 3.69590 462288448592435526 22054 5 20637503295486842471220 574664553482533493514612 6 24689599525575902553705 10 6.710086 417666 14457 614457 58923 0.00000 1.44000 1.95200 2.36160 268928 2.95142 3.16114 3.32891 3.46313 357050 5650225.42624 25