Journalize transaction related to graham disposition of bond

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Reference no: EM131819545

Question: Accounting for bond investments Graham purchased a bond on January 1, 2016, for $140,000. The bond has a face value of $140,000 and matures in 15 years. The bond pays interest on June 30 and December 31 at a 6% annual rate. Graham plans on holding the investment until maturity.

Requirements: 1. Journalize the 2016 transactions related to Graham's bond investment. Explanations are not required.

2. Journalize the transaction related to Graham's disposition of the bond at maturity. Determine the date. (Assume the last interest payment has already been recorded.) Explanations are not required.

Reference no: EM131819545

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