pany issues four-year bonds with a $105,000 par value on January 1, 2021, at a price of $100,950. 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). View transaction list Journal entry worksheet Record the entry for payment of the bonds at maturity. (Assume semiannual interest is already recorded). Note: Enter debits before credits Date General Journal Debit

pany issues four-year bonds with a $105,000 par value on January 1, 2021, at a price of $100,950. 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). View transaction list Journal entry worksheet Record the entry for payment of the bonds at maturity. (Assume semiannual interest is already recorded). Note: Enter debits before credits Date General Journal Debit

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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