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Required information

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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 $31.$

$3.$ 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.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[\backslash$table$[[$December$],[2024]],,,],[,,,],[,,,],[,,,],[,,,]]$