Park Corporation is planning to issue bonds with a face value of $$2,000,000$ and a coupon rate of $10$ percent. The bonds mature in $10$ years and pay interest semiannually every June $30$ and December $31.$ All of the bonds were sold on January $1$ of this year. Park uses the effective$-$interest amortization method and also uses a premium account. Assume an annual market rate of interest of $8\mathrm{.}5$ percent. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ and PVA of $$1)($Use the appropriate factor$($s$)$ from the tables provided.$)$

Required:

$1.$&$2.$ Prepare the journal entry to record the issuance of the bonds and the interest payment on June $30$ of this year.

$3.$ How will Park present its bonds on its June $30$ balance sheet?