Journal entry to record the acquisition of the bonds

Reference no: EM13494593

On January 1 Wildcat Company purchased $93,000 of 10% bonds at face value. The bonds are to be held to maturity. The bonds pay interest semiannually on January 1 and July 1.

Required:
(1.) Prepare the appropriate journal entry to record the acquisition of the bonds.
(2.) Record the first two interest payments (ignore year-end accruals).

Reference no: EM13494593

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