EStaticChapter Supplement Recording and Reporting a Bond Issued at a Premium without
Premium Account L
Park Corporation is planning to issue bonds with a face value of $ and a coupon rate of percent. The bonds mature in
years and pay interest semiannually every June and December All of the bonds were sold on January of this year. Park uses
the effectiveinterest amortization method and does not use a premium account. Assume an annual market rate of interest of
percent. FV of $ PV of $ FVA of $ and PVA of $Use the appropriate factors from the tables provided.
Required:
& Prepare the journal entry to record the issuance of the bonds and the interest payment on June of this year.
What bonds payable amount will Park report on its June balance sheet?
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What bonds payable amount will Park report on its June balance sheet? Round your final answers to whole dollars.
