Prepare the journal entry for maturity of bonds on December

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Reference no: EM132743530

Question - Duval Co. issues four-year bonds with a $111,000 par value on January 1, 2019, at a price of $106,880. The annual contract rate is 8%, and interest is paid semiannually on June 30 and December 31.

Required - Prepare the journal entry for maturity of the bonds on December 31, 2022 (assume semiannual interest is already recorded).

Reference no: EM132743530

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