14-7 part 3

Required information Exercise 14-7 (Algo) Straight-Line: Amortization table and bond interest expense LO P2 [The following information applies to the questions displayed below.] Duval Company issues four-year bonds with a $119,000 par value on January 1,2021 , at a price of $114,840. The annual contract rate is 5%, and interest is paid semiannually on June 30 and December 31. Exercise 14-7 (Algo) Part 3 3. Prepare the journal entry for maturity of the bonds on December 31, 2024 (assume semiannual interest is already recorded). Journal entry worksheet Record the entry for payment of the bonds at maturity. (Assume semiannual interest is already recorded). Record the entry for payment of the bonds at maturity. (Assume semiannual interest is already recorded). Note: Enter debits before credits