Using the information from Practice Eaxercise 15-4, journalize the following transactions using the straight-line method of amortization:
In exercise 15-4
Journalize the entries to record the following selected held-to-maturity investment transactions for Green Corp.: Purchased for cash $2,000,000 of ABC Corp. eight-year, 5% bonds at 98.98 on their issuance date, January 1. The market rate was 5.2%.
1. Receipt of the first semiannual interest payment and amortization of the discount on July 1.
2. The adjusting entry for accrued interest and amortization of the discount on December 31, Green Corp.'s year-end.