Transactions from Demo Communications:
2020
Jan 1 Issued $6,000,000 of 9%, 10-year bonds payable when the market rate is 8%. The issuing price is $6,405,300
Jul 1 Paid semi-annual interest and amortized bonds by the effective interest method on the 9% bonds payable.
Dec 31 Accrued semi-annual interest expense and amortized bonds by the effective interest method on the 9% bonds payable.
2021
Jan 1 Paid semi-annual interest.
Jul 1 Paid semi-annual interest.
2030
Jan 1 Paid the 9% bonds at maturity.