On January 1,2013,Davie Services Issued $20,000 of 8% Bonds That $$\begin{array} { | l | l | l | } \hline & & \\\hline & & \\\hline\end{array}$$

question 20

Essay

On January 1,2013,Davie Services issued $20,000 of 8% bonds that mature in five years.They were issued at par-for the same amount as the face value.On January 1,2018,when the bonds mature,Davie Services will make the final principal payment.Please provide the journal entry for that payment.
$$\begin{array} { | l | l | l | } \hline & & \\\hline & & \\\hline\end{array}$$

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Definitions:

Gain-Sharing

A plan that allows employees to share in cost savings or productivity gains realized by their efforts.

Net Profits

The financial gain attained by a business after subtracting all operating expenses, interest, taxes, and any other necessary expenditures from its total revenue.

Fringe Benefits

Fringe benefits are additional advantages or compensations provided to employees on top of their regular salary, such as health insurance, paid vacations, and retirement plans.

Employee Assistance Programs

Employee Assistance Programs are workplace initiatives designed to help employees deal with personal problems that might adversely impact their work performance, health, and well-being.