8/31/y1, $3,000,000 face value bonds are issued for $2,600,000plus accrued interest. These bonds pay interest on October 31 andApril 30. These bonds have a coupon rate of 6%, and are dated April30, y1. The bonds are 20-year bonds, and as such mature on April30, Y21. Please record the following, using the straight-lineapproach. This company has a December 31 year end. 8/31/y1,issuance of the bonds (include accrued interest). 10/31/y1,interest payment. 12/31/y1, accrual of interest. 4/30/y2, interestpayment.
