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Question Four (30 points) On 1st Jan 2020, KDC Co. purchased at par 12% bonds having maturity value 700,000 $. They mature on Ist Jan.

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Question Four (30 points) On 1st Jan 2020, KDC Co. purchased at par 12% bonds having maturity value 700,000 $. They mature on Ist Jan. 2025, with interest receivable December 31st of each year. Instructions a. Prepare the journal entry at the date of bond purchase. (10marks) b. Prepare the journal entry to record the interest received for 2020. (10marks) c. Prepare the journal entry to record the interest received for 2021. (10marks)

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