Required information [The following information applies to the questions displayed below.] Duval Company issues four-year bonds with a $100,000 par value on January 1, 2021, at a price of $95,952. 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 1 Record the entry for payment of the bonds at maturity. (Assume semiannual interest is already recorded). Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit Record entry Clear entry View general joumal
Required information [The following information applies to the questions displayed below.] Duval Company issues four-year bonds with a $100,000 par value on January 1, 2021, at a price of $95,952. 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 1 Record the entry for payment of the bonds at maturity. (Assume semiannual interest is already recorded). Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit Record entry Clear entry View general joumal
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Required information
[The following information applies to the questions displayed below.]
Duval Company issues four-year bonds with a $100,000 par value on January 1, 2021, at a price of $95,952. 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
<
1
Record the entry for payment of the bonds at maturity. (Assume semiannual
interest is already recorded).
Note: Enter debits before credits.
Date
December 31,
2024
General Journal
Debit
Credit
View general joumal
Record entry
Clear entry](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F06c7c8d5-2c04-49b7-8fe3-106e5cab0a5d%2F0779ad99-0638-4e5a-a8e0-41850a96eaa5%2F2bveydou_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
Duval Company issues four-year bonds with a $100,000 par value on January 1, 2021, at a price of $95,952. 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
<
1
Record the entry for payment of the bonds at maturity. (Assume semiannual
interest is already recorded).
Note: Enter debits before credits.
Date
December 31,
2024
General Journal
Debit
Credit
View general joumal
Record entry
Clear entry
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