Required Information E10-9 (Static) (Chapter Supplement) Recording and Reporting a Bond Issued at a Discount (without Discount Account) LO10-4 [The following information applies to the questions displayed below.] Park Corporation is planning to issue bonds with a face value of $600,000 and a coupon rate of 7.5 percent. The bonds mature in four 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 discount account. Assume an annual market rate of interest of 8.5 percent. (FV of $1. PV of $1. EVA of $1. and PVA of $1) (Use the appropriate factor(s) from the tables provided.) E10-9 Part 1 Required: 1. Prepare the journal entry to record the issuance of the bonds. (If no entry Is required for a transaction/event, select "No Journal entry required" In the first account field. Round your final answers to whole dollars.) View transaction list Journal entry worksheet Record the issuance of bonds. Note: Enter debits before credits. Date General Journal Debit Credit January 01 Record entry Clear entry View general journal