On January 1, 2017, Waters Corp. bought $25,000 of Violet Co.'s 9% ten-year bonds for $25,300 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, 2018.

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The Answer of On January 1, 2017, Waters Corp. bought $25,000 of Violet Co.'s 9% ten-year bonds for $25,300 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, 2018.