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A company issued bonds on April 1, 2015 with a par value of $400,000 on their issue date. The bonds mature in 15 and pay
A company issued bonds on April 1, 2015 with a par value of $400,000 on their issue date. The bonds mature in 15 and pay 5.0% annual interest in semiannual payments ( sept 30 and March 31). On the issue date, the market rate of interest is 6.0%. The bonds are issued at a price of $360.00. The company uses the straight-line method of authorization.
1. Prepare the journal entry date of maturity (after all interest payments have been made. The maturity date will be dated the same day as the last interest payment date.
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