On January 1, 2010, Waterson Corp.bought $5, 000 of Voltaire Co.'s 9% ten-year bonds for $5, 300 to yield 8%.The bonds pay interest annually and are classified as held to maturity.
Required:
Using the effective interest method, journalize the receipt of the interest and amortization at December 31, 2011.

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The Answer of On January 1, 2010, Waterson Corp.bought $5, 000 of Voltaire Co.'s 9% ten-year bonds for $5, 300 to yield 8%.The bonds pay interest annually and are classified as held to maturity.
Required:
Using the effective interest method, journalize the receipt of the interest and amortization at December 31, 2011.