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Prepare the journal entry at the date of the bond purchase

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Reference no: EM131817898

Question - Entries for Held-to-Maturity Securities

On January 1, 2012, Jennings Company purchased at par 10% bonds having a maturity value of $300,000. They are dated January 1, 2012, and mature January 1, 2017, with interest receivable December 31 of each year. The bonds are classified in the held-to-maturity category.

Instructions: Prepare the journal entry at the date of the bond purchase.

Reference no: EM131817898

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