E$10-8($Algo$)$ Recording and Reporting a Bond Issued at a Discount $($with Discount Account$)$ LO$10-4$

Denzel Corporation is planning to issue bonds with a face value of $$770,000$ and a coupon rate of $7\mathrm{.}5$ percent. The bonds mature in $8$ years and pay interest semiannually every June $30$ and December $31.$ All of the bonds were sold on January $1$ of this year. Denzel uses the effective$-$interest amortization method and also uses a discount account. Assume an annual market rate of interest of $8\mathrm{.}5$ percent. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ and PVA of $$1)$

Note: Use appropriate factor$($s$)$ from the tables provided.E$10-8($Algo$)$ Recording and Reporting a Bond Issued at a Discount $($with Discount Account$)$ L$010-4$

Denzel Corporation is planning to issue bonds with a face value of $$770,000$ and a coupon rate of $7\mathrm{.}5$ percent. The bonds mature in $8$

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 also uses a discount account. Assume an annual market rate of interest of $8\mathrm{.}5$ 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 entries to record the issuance of the bonds and interest payment on June $30$ of this year.

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

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

Required $1$

and $2$

What bonds payable amount will Denzel report on its June $30$ balance sheet? $($Enter all amounts as positive values. Round

your intermediate calculations and final answers to whole dollars.$)$