On June 1, a company issued at face value a $2,400,000, 4%, five-year bond that pays semiannual

Question:

On June 1, a company issued at a $2,400,000, 4%, five-year bond that pays semiannual interest on April 30 and October 31. Journalize
(a) The sale of the bond
(b) The interest payment on October 31.
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...