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Entriste Co.

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On January 1,2006 , Entriste Co. purchased at par 12% bonds having a maturity value of $300,000. They are dated on Jan 1, 2006, and mature Jan 1. 2011, with interest receivable Dec 31st of each year. The bonds are classified in the held to maturity category.

a) prepare journal entry at the date of the bond purchase
b) prepare journal entry to record the interest received for 2006
c) prepare journal entry to record the interest received for 2007

Can you please use excel to prepare this problem

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Solution Summary

This solution is to prepare journal entry at the date of the bond purchase and to record the interest received.

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