December 31: On January 1, Byte received $214,878.00 when they issued a $200,000.00, 7%, 10 year bond. Interest is to be paid semiannually on June 30 and December 31. The market rate was 6%. This entry was never recorded.
December 31: Please record the timely interest payment for the bond using the straight line method that was made on June 30th, with check # 5367. This entry was never recorded..
