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egoroff_w [7]
3 years ago
13

When the market rate is 10%, a company issues $60,000 of 12%, 10-year bonds dated January 1, 2017, that mature on December 31, 2

026, and pay interest semiannually. When the bonds mature, the issuer records its payment of principal with a (debit/credit) to Cash in the amount of $ .
Business
1 answer:
Shkiper50 [21]3 years ago
8 0

Answer:

Credit, $60,000

Explanation:

Given,

Market rate = 10%

Face value $60,000 = Principal value.

When the bonds mature, the issuer records its payment of principal with credit to cash in the amount of principal value that is $60,000 because the bondholder will pay the principal with interest.

Therefore,

Bondholder will pay the $60,000 issued amount as principal because there is an additional interest amount needs to be paid.

It is credit because it is matured on the date of cash payment.

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