On July 1, 2015, Swanson Manufacturing Ltd purchased $75,000 of 10 year, 7 Government of Canada bonds at par plus accrued interest to be held to maturity The interest is received semiannually on May 1 and November 1 a Journalize the entry to record the bond purchase b Journalize the semiannual inte...

2015 a Jul 1 HeldtoMaturity Investment Govt of Can Bonds 7500000 Interest Rec ...

On July 1, 2015, Swanson Manufacturing Ltd. purchased $75,000 of 10-year, 7% Government of Canada bonds at

Question:

On July 1, 2015, Swanson Manufacturing Ltd. purchased $75,000 of 10-year, 7% Government of Canada bonds at par plus accrued interest to be held to The interest is received semiannually on May 1 and November 1.
a. Journalize the entry to record the bond purchase.
b. Journalize the semiannual interest received on November 1, 2015.
c. Journalize the accrued interest adjustment on December 31, 2015.
d. Journalize the receipt of the face amount of the bonds on the bond date, May 1, 2025.
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...