E$10-13($Algo$)$ Recording and Reporting a Bond Issued at a Premium $($with Premium Account$)$ LO$10-5$

Park Corporation is planning to issue bonds with a face value of $$3,300,000$ and a coupon rate of $9$ percent. The bonds mature in $10$ years and pay interest semiannually every June $30$ and December $31.$ All of the bonds were sold on January $1$ of this year. Park uses the effective$-$interest amortization method and also uses a premium account. Assume an annual market rate of interest of $7\mathrm{.}5$ percent. $($FV of $$1,$ PV of $$1,$ FVAintermediate calculations and final answers to whole dollars.E$10-13($Algo$)$ Recording and Reporting a Bond Issued at a Premium $($with Premium Account$)$ L$010-5$

Park Corporation is planning to issue bonds with a face value of $$3,300,000$ and a coupon rate of $9$ percent. The bonds 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 also uses a premium account. Assume an annual market rate of interest of $7\mathrm{.}5$ percent.

$($FV of $$1,$ PV of $$1,$ FVA of $$1,$ and PVA of $$1)$

Note: Use appropriate factor$($s$)$ from the tables provided.

Required:

and $2.$ Prepare the journal entry to record the issuance of the bonds and the interest payment on June $30$ of this year

What bonds payable amount will Park report on its June $30$ balance sheet?

Complete this question by entering your answers in the tabs below.

Required $1$

and $2$

Prepare the journal entry to record the issuance of the bonds and the interest payment on June $30$ of this year.

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. of $$1,$ and PVA of $$1)$

Note: Use appropriate factor$($s$)$ from the tables provided.

Required:

$1.$ and $2.$ Prepare the journal entry to record the issuance of the bonds and the interest payment on June $30$ of this year

$3.$ What bonds payable amount will Park report on its June $30$ balance sheet?E$10-13($Algo$)$ Recording and Reporting a Bond Issued at a Premium $($with Premium Account$)$ L$010-5$

Park Corporation is planning to issue bonds with a face value of $$3,300,000$ and a coupon rate of $9$ percent. The bonds 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 also uses a premium account. Assume an annual market rate of interest of $7\mathrm{.}5$ percent.

$($FV of $$1,$ PV of $$1,$ FVA of $$1,$ and PVA of $$1)$

Note: Use appropriate factor$($s$)$ from the tables provided.

Required:

and $2.$ Prepare the journal entry to record the issuance of the bonds and the interest payment on June $30$ of this year

What bonds payable amount will Park report on its June $30$ balance sheet?

Complete this question by entering your answers in the tabs below.

Required $1$

and $2$

Prepare the journal entry to record the issuance of the bonds and the interest payment on June $30$ of this year.

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.