Question: Exercise 10-7 Straight-Line: Amortization table and bond Interest expense LO P2 [The following Information applies to the questions displayed below.] Duval Co. Issues four-year bonds

Exercise 10-7 Straight-Line: Amortization table and bond Interest expense LO P2

Exercise 10-7 Straight-Line: Amortization table and bond Interest expense LO P2 [The following Information applies to the questions displayed below.] Duval Co. Issues four-year bonds with a $114.000 par value on January 1, 2019, at a price of $109.870. The annual contract rate is 5%, and Interest Is pald semiannually on June 30 and December 31. Exercise 10-7 Part 3 3. Prepare the journal entry for maturity of the bonds on December 31, 2022 (assume semiannual Interest is already recorded). View transaction list Journal entry worksheet Record the entry for maturity of the bonds on December 31, 2022 (assume semiannual interest is already recorded). Note: Enter debits before credits. General Journal Debit Credit Date Dec 31, 2022 Record entry Clear entry View general joumal

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