On February 1, Lasquiti Logistics Inc. issues 20-year, 3 percent bonds payable with a maturity value of

Question:

On February 1, Lasquiti Logistics Inc. issues 20-year, 3 percent bonds payable with a maturity value of $10,000,000. The bonds sell at par and pay interest on January 31 and July 31. Record

(a) The issuance of the bonds on February 1,

(b) The semi-annual interest payment on July 31,

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...