Duval Company Issues four$-$year bonds with a $$120,000$ par value on January $1,2021,$ at a price

of $$115,830.$ The annual contract rate is $7\%,$ and interest is paid semiannually on June $30$ and

December $31.$

Prepare the journal entry for maturity of the bonds on December $31,2024($assume semiannual interest is

already recorded$).$

Journal entry worksheet

$1$

Record the entry for payment of the bonds at maturity. $($Assume semiannual

interest is already recorded$).$

Note: Enter debits before credits.