Jonas Corporation has excess cash to invest and pays $200,000 to buy 7%, five-year bonds of Ridgeline Corporation, at face value, on June 30, 2018. The bonds pay interest on June 30 and December 31. Jonas intends to hold the bonds to maturity. The bonds are disposed of, at face value, on June 30, 2023.
Prepare the journal entry for December 31, 2018 (omit the explanation).
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Indicate whether the statement is true or false
All of the following are considered effective cash management principles except:
A. Keeping only necessary assets. B. Delaying payment of liabilities until the last possible day. C. Planning expenditures. D. Retaining excess cash for unexpected expenditures. E. Encouraging collection of receivables by offering discounts for early payments.
The ________ holds that the legal existence of a state or government happens automatically by operation of law
A. doctrine of transformation B. declaratory doctrine C. constitutive doctrine D. doctrine of incorporation
The right to cure refers to the buyer's right to make good on a check or other form of payment
that has been dishonored. Indicate whether the statement is true or false