Recording Bonds at Issuance
{"Image DocumentName": "Recording Bonds at Issuance", "Image ImageDescription": "On 1/1/06, Matrix, Inc. issues 1,000 bonds at face value to Apex, Inc. The market interest rate is 10%. The bonds have the following terms: Face Value =  1,000. Maturity Date = 12/31/10 (5 years) Stated Interest Rate = 10% Interest Dates = 6/30 & 12/31. Bond Date = 1/1/06. On January 1, 2006, Matrix issued 1,000 bonds that have a face value of  1,000 each and a stated rate of 10%. Interest is paid on June 30 and December 31. The bonds mature on December 31, 2010, so they are five-year bonds. Let\u2019s look at the journal entry to record the issuance of the bond on January 1, Record the issuance of the bonds on 1/1/06.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}