a)
Bonds: Bonds are long-term promissory notes that are represented by a company while borrowing money from investors to raise fund for financing the operations.
Bonds Payable: Bonds payable are referred to long-term debts of the business, issued to various lenders known as bondholders, generally in multiples of $1,000 per bond, to raise fund for financing the operations.
To prepare:
b)
To prepare: Journal entry to record the first interest payment on June 30.
c)
To prepare: Journal entry to record the payment of the principal on the maturity date.
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