Anthem Corporation has excess cash to invest and pays $200,000 to buy 7%,five-year bonds of Richmond Corporation,at face value,on June 30,2016.The bonds pay interest on June 30 and December 31.At the date of purchase,Anthem intended to hold the bonds to maturity.The bonds are disposed of,at face value,on June 30,2021.
Prepare the journal entry for (omit the explanation)June 30,2021 (assume that the last interest payment has already been recorded).

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The Answer of Anthem Corporation has excess cash to invest and pays $200,000 to buy 7%,five-year bonds of Richmond Corporation,at face value,on June 30,2016.The bonds pay interest on June 30 and December 31.At the date of purchase,Anthem intended to hold the bonds to maturity.The bonds are disposed of,at face value,on June 30,2021.
Prepare the journal entry for (omit the explanation)June 30,2021 (assume that the last interest payment has already been recorded).

Anthem Corporation Has Excess Cash to Invest and Pays $200,000