Suppose Scotiabank issued a six-year $10,000 bond with stated interest rate of 6.25% when the market interest

Question:

Suppose Scotiabank issued a six-year $10,000 bond with stated interest rate of 6.25% when the market interest rate was 6¼%. Assume that the accounting year of Scotiabank ends on October 31. Journalize the following transactions, including an explanation for each entry.
a. Issuance of the bond, payable on May 1, 2014
b. Accrual of interest expense on October 31, 2014 (rounded to the nearest dollar)
c. Payment of cash interest on November 1, 2014
d. Payment of the bonds at (give the date)
Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...