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Prepare the journal entry for the interest revenue

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Question - On January 1, 2017, Windsor Company acquires $150,000 of Spiderman Products, Inc., 10% bonds at a price of $139,375. Interest is received on January 1 of each year, and the bonds mature on January 1, 2020. The investment will provide Windsor Company a 13% yield. The bonds are classified as held-to-maturity.

Prepare the journal entry for the interest revenue and discount amortization under the straight-line method at December 31, 2018.

Prepare the journal entry for the interest revenue and discount amortization under the effective-interest method at December 31, 2018.

Reference no: EM132515694

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