Broadbent Insurance purchased $100,000 of 5.5% DGM bonds on January 1, 2016, at a price of 90

Question:

Broadbent Insurance purchased $100,000 of 5.5% DGM bonds on January 1, 2016, at a price of 90 when the market rate of interest was 8%. Broadbent intends to hold the bonds until their date of January 1, 2021. The bonds pay interest semiannually on each January 1 and July 1. Record the initial purchase of the bonds by Broadbent on January 1, 2016, and the receipt of the interest on the first interest payment date of July 1, 2016?
Calculate the amount of discount amortization (using the straight line amortization method) on July 1, 2016, and record the related journal entry. What is the total interest revenue for the first six months of 2016?
Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...