(Answered) On july 1 20x5 yum-yum bought 20-year 200000 4 bonds for

Accounting

On July 1, 20X5, Yum-Yum bought 20-year, $200,000, 4% bonds for $229,916. Interest onthe bonds is to be paid semi-annually on December 31 and June 30 every year. The firstinterest payment was received on December 31, 20X5, and recorded as interest revenue. Yum-Yum intends to hold the bonds until they mature. The market value of the bonds was$232,000 on December 31, 20X5.

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