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Park Corporation is planning to istue bonds with a face value of 52.000.000 and a...

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Accounting

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Park Corporation is planning to istue bonds with a face value of 52.000.000 and a coupon rate of 10 percent. The boncts 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 does not use a premium account Assume an annual market rate of interest of 8.5 percent. EY of 51, PY of 51, EYA of 51, and PyA of 51 . Noter Use appropriate facter(s) from the tables previded. Required: 1. and 2. Prepare the journal entry to record the issuance of the bonds and the interest paymert on June 30 of this year. 3. What bonds payabie amount wall Park report on its June 30 balance sheet? Complete this question by entering your answers in the tabs below. hiegere the joumal entrr to record the iacuance of the bonds and the interest payment on June 30 of this yeat. Journal entry worksheet Recond the insuarse of the bonds

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