Griffin purchased a bond on January 1, 2018, for $140,000. The bond has a face value of

Question:

Griffin purchased a bond on January 1, 2018, for $140,000. The bond has a of $140,000 and matures in 20 years. The bond pays interest on June 30 and December 31 at a 3% annual rate. Griffin plans on holding the investment until Journalize the 2018 transactions related to Griffin's bond investment. Explanations are not required.
2. Journalize the transaction related to Griffin's disposition of the bond at on December 31, 2037. (Assume the last interest payment has already been recorded.) Explanations are not required.
Face Value
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the... 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...