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Doc Antle Company purchased 10-year, 6% bonds with a face amount of $600,000 on July 1, 2021 when they were issued by Myrtle Beach Safari
Doc Antle Company purchased 10-year, 6% bonds with a face amount of $600,000 on July 1, 2021 when they were issued by Myrtle Beach Safari Corp. Doc Antle had the ability and intent to hold these bonds to maturity and classified the investment as a held-to-maturity security. Interest on the bonds is paid semiannually on June 30 and December 31. The market interest rate (yield) on bonds of similar risk and maturity was 5%. The fair value of the bonds on December 31, 2021 was $620,000. Doc Antle Company purchased 10-year, 6% bonds with a face amount of $600,000 on July 1, 2021 when they were issued by Myrtle Beach Safari Corp. Doc Antle had the ability and intent to hold these bonds to maturity and classified the investment as a held-to-maturity security. Interest on the bonds is paid semiannually on June 30 and December 31. The market interest rate (yield) on bonds of similar risk and maturity was 5%. The fair value of the bonds on December 31, 2021 was $620,000
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