Business, 12.03.2021 15:40 starswarsfan

E10-8 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 $630,000 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

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E10-8 Recording and Reporting a Bond Issued at a Discount (with Discount Account) LO10-4 Park Corpor...

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