On April 1 of the current year,a company paid $150,000 to purchase 7%,10-year bonds that had a par value of $150,000 and paid interest semiannually each April 1 and October 1.The company intends to hold the bonds until they mature.Prepare the journal entry to record the receipt of the first semiannual interest payment on October 1 of the current year.

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The Answer of On April 1 of the current year,a company paid $150,000 to purchase 7%,10-year bonds that had a par value of $150,000 and paid interest semiannually each April 1 and October 1.The company intends to hold the bonds until they mature.Prepare the journal entry to record the receipt of the first semiannual interest payment on October 1 of the current year.

On April 1 of the Current Year,a Company Paid $150,000