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Graham purchased a bond on January 1, 2018, for $60,000. The bond has a face value of $60,000 and matures in 10 years. The bond
Graham purchased a bond on January 1, 2018, for $60,000. The bond has a face value of $60,000 and matures in 10 years. The bond pays interest on June 30 and December 31 at a 4% annual rate. Graham plans on holding the investment until maturity Read the requirements Requirement 1. Journalize the 2018 transactions related to Graham's bond investment. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) Begin by journalizing Graham's investment on January 1, 2018 Date Accounts Debit Credit Jan. 1 Next, journalize Graham's receipt of interest on June 30, 2018 Date Accounts Debit Credit Jun. 30 Finally, journalize Graham's receipt of interest on December 31, 2018 Date Accounts Debit Credit Dec. 31 Requirement 2. Journalize the transaction related to Graham's disposition of the bond at maturity on December 31, 2027. (Assume the last interest payment has already been recorded.) Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) Date Accounts Debit Credit
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