On November 1,2013,Archangel Services Issued $200,000 of 10-Year Bonds with a Stated

Essay

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.
$$\begin{array} { | l | r | r | } \hline \text { Interest payable } & 1,000 & \\\hline \text { Interest expense } & 2,300 & \\\hline \text { Discount on bonds payable } & & 300 \\\hline \text { Cash } & & 3,000 \\\hline\end{array}$$