A company paid $600,000 for 1-year,10% bonds with a par value of $600,000 on July 1.The bonds pay 5% interest semiannually on December 31 and June 30.The company intends to hold the bonds until they mature.Prepare the journal entries for the following dates and transactions related to this bond acquisition.
(1)Bonds purchased on July 1.
(2)Receipt of semiannual interest only on December 31.
(3)Receipt of semiannual interest only on June 30.
(4)Redemption of the bonds at maturity on June 30.

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The Answer of A company paid $600,000 for 1-year,10% bonds with a par value of $600,000 on July 1.The bonds pay 5% interest semiannually on December 31 and June 30.The company intends to hold the bonds until they mature.Prepare the journal entries for the following dates and transactions related to this bond acquisition.
(1)Bonds purchased on July 1.
(2)Receipt of semiannual interest only on December 31.
(3)Receipt of semiannual interest only on June 30.
(4)Redemption of the bonds at maturity on June 30.

A Company Paid $600,000 for 1-Year,10% Bonds with a Par