Recording and Reporting a Bond Issued at a Discount (with Discount Account) LO10-4 Park Corporation is planning to issue bonds with a face value of $600,000 and a coupon rate of 7.5 percent. The bonds mature in four 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.)

E10-8 Recording and Reporting a Bond lssued at a Discount (with Discount Account Lo10-4 Park Corporation is planning to issue bonds with a face value of $600,000 and a coupon rate of 7.5 percent. The bonds mature in four 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 $1. PV Ot $1. FVA ot $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 view transaction list view general journal Journal Entry Worksheet Record the issuance of bonds. General Journal Debit Credit Date January 01 Enter debits before credits done lear entry record entry