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.

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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