Business, 31.05.2020 04:59 ranamontana98

On January 1, a company issues bonds dated January 1 with a par value of $240,000. The bonds mature in 5 years. The contract rate is 11%, and interest is paid semiannually on June 30 and December 31. The market rate is 10% and the bonds are sold for $249,262. The journal entry recorded on the maturity date (after the last semiannual interest payment has been made and recorded) is:

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On January 1, a company issues bonds dated January 1 with a par value of $240,000. The bonds mature...