Park Corporation is planning to issue bonds with a face value of $680,000 and a coupon rate of 7.5 percent. The bonds mature in 8 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.

Prepare a journal entry to record the issuance of the bonds.

It should be a debit to cash and a credit to bonds payable. I just cannot get the correct numbers for some reason.