Question
Park Corporation is planning to issue bonds with a face value of $750,000 and a coupon rate of 7.5 percent. The bonds mature in 4
Park Corporation is planning to issue bonds with a face value of $750,000 and a coupon rate of 7.5 percent. The bonds mature in 4 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. Prepare the journal entry to record the issuance of the bonds. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
2537 42727 17723 7.-988 70 7 %| 33 44 70 25 88 90 08 5 8 5: 348214 3978 37396 137 0-8654 2-0. 0 0 0 0 0 0 0 0 0 5554444 5793 65443 1-0000 0. 0 0 0 0 0 28417 87776 3 0000000000 0. 0. 9 77 69 4 9 9 55 99 50 07 69 31975 8777 54 56 00 80 9 3 92 69 59 56 58 60 5 8 6 9 3 6 6 922 2594 0742 887777666 55554443 98233 89 79 71 63 56 50 45 40 36 32 876554433 2 5 5544 51127610 0000000000000000000000 % 1-0000 0. 0 0 0 0 0 72537 15663737 83373731 O. 0 0 0 0 0 0 0 0 0 0 0 0 0 01-11 17 41 72 08 49 96 47 01 60 22 03 e ri 1 1 2 3 4 5 6 7 8 9 20 25 30 ri 1 2 3 4 5 6 7 8 9 14 123456789
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