Sandy Sensations purchases twenty,$1,000,7%,10-year bonds issued by Pizza Pier for $21,488 on January 1,2012.The market interest rate for bonds of similar risk and maturity is 6%.Interest is received semi-annually on June 30 and December 31.
1.Record the investment in bonds.
2.Record receipt of the first interest payment on June 30,2012.

Question

Quizplus · Accepted Answer

The Answer of Sandy Sensations purchases twenty,$1,000,7%,10-year bonds issued by Pizza Pier for $21,488 on January 1,2012.The market interest rate for bonds of similar risk and maturity is 6%.Interest is received semi-annually on June 30 and December 31.
1.Record the investment in bonds.
2.Record receipt of the first interest payment on June 30,2012.

Sandy Sensations Purchases Twenty,$1,000,7%,10-Year Bonds Issued by Pizza Pier for $21,488