Denzel Corporation is planning to issue bonds with a face value of $730,000 and a coupon...

 

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Denzel Corporation is planning to issue bonds with a face value of $730,000 and a coupon rate of 7.5 percent. The bonds mature in 6 years and pay interest semiannually every June 30 and December 31. All of the bonds were sold on January 1 of this year. Denzel uses the effective-interest amortization method and does not use 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) Note: Use appropriate factor(s) from the tables provided. Required: 1. Prepare the journal entry to record the issuance of the bonds. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your intermediate calculations and final answers to whole dollars. Denzel Corporation is planning to issue bonds with a face value of $730,000 and a coupon rate of 7.5 percent. The bonds mature in 6 years and pay interest semiannually every June 30 and December 31. All of the bonds were sold on January 1 of this year. Denzel uses the effective-interest amortization method and does not use 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) Note: Use appropriate factor(s) from the tables provided. Required: 1. Prepare the journal entry to record the issuance of the bonds. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your intermediate calculations and final answers to whole dollars.