Required information

Exercise 10-15 Straight-Line: Amortization and accrued bond interest expense LO P2

[The following information applies to the questions displayed below.] Duval Co. issues four-year bonds with a $117,000 par value on January 1, 2017, at a price of $112,870. The annual contract rate is 9%, and interest is paid semiannually on June 30 and December 31.

Exercise 10-15 Part 3

3. Prepare the journal entry for maturity of the bonds on December 31, 2020 (assume semiannual interest is already recorded).

Journal entry worksheet

Record the paid par value at maturity. (Assume interest recorded.)

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
May 31, 2018