Balsam Associates issued $ 600,000 par value, 10- year bonds on January 1, 2016, with a 2% stated interest rate. Balsam will make interest payments semiannually each June 30 and ­ December 31 with the first interest payment at the end of the period on June 30, 2016. The market rate of interest on the date of the bond issue was 4%. On what date do the bonds mature? Prepare the journal entry when the bonds mature (you do not need to include an entry for the interest payment).