On July 1, 20X4, CWW bought General Company Inc. bonds for $250,000. The interest rate on the bonds is 7% per annum, which was equal to the market...

On July 1, 20X4, CWW bought General Company Inc. bonds for $250,000. The interest rate on the bonds is 7% per annum, which was equal to the market rate when the CWW acquired the bonds. Interest is paid on June 30 and December 31 each year. CWW intends to hold the bonds until they mature on June 30, 20X9. At year end, CWW had not yet received the semi-annual interest payment that was due on December 31, 20X4. The market value of the bonds was $254,500 on December 31, 20X4.