On November 1, 2013, Archangel Services issued $200,000 of 10-year bonds with a stated rate of 3%. The bonds were sold at discount for $191,000 and make semiannual payments on April 30 and October 31. At December 31, 2013, Archangel made an adjusting entry to accrue interest at year-end. No further entries were made until April 30, 2014 when the first interest payment was made. Please provide the journal entry for that payment.
Definitions:
Task Relations
The dynamics and interactions between tasks within a workflow or project.
Authority
signifies the legitimate power or right given to an individual or body to make decisions, command resources, and enforce obedience.
Performing Stage
A phase in group development where members effectively work together and achieve high levels of task performance and cooperation.
Bruce Tuckman
An American psychological researcher known for his "forming, storming, norming, performing" model of group development.
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