Farrar Corp., a wholesaler of office furniture, issued \(\$ 7,000,000\) of 20 -year, \(9 \%\) callable bonds on April 1, 2008, with interest payable on April 1 and October 1. The fiscal year of the company is the calendar year. Journalize the entries to record the following selected transactions:objs. 2, 3

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2008 Apr. 1. Issued the bonds for cash at their face amount. Oct. 1. Paid the interest on the bonds. 2012 Oct. 1. Called the bond issue at 103, the rate provided in the bond indenture. (Omit entry for payment of interest.)