Correa Company buys, ten-year bonds at face value in the amount of $1,000,000 on January 1, 2019. The bonds pay 12% interest on June 30 and December 31. Correa intends to hold the bonds to maturity. Record Correa Company's journal entry for the purchase of the bonds on January 1, 2019, and the receipt of the first 6 months of interest on June 30.

Answer rating: 100% (QA)

Journal entry Date Account title and explanation ... View the full answer