5. EX.14-09.ALGO (Algorithmic) Entries for Issuing and Calling Bonds; Gain Emil Corp. produces and sells wind-energy driven engines. To finance its operations, Emil Corp. issued $605,000 of 10-year, 11% callable bonds on May 1, 20Y1, at their face amount, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year Journalize the entries to record the following selected transactions: 20Y1 May 1 Issued the bonds for cash at their face amount. Nov. 1 Paid the interest on the bonds. 20YS Page 5 of 7 Nov. 1 Called the bond issue at 95, the rate provided in the bond indenture. (Omit entry for payment of interest.) Issued the bonds for cash at their face amount. 20Y1 May 1 Paid the interest on the bonds. 20Y1 Nov. 1 Called the bond issue at 95, the rate provided in the bond indenture. (Omit entry for payment of interest.) For a compound transaction, if an amount box does not require an entry, leave it blank. 20Y5 Nov. 1 6. EX.14-12.ALGO (Algorithmic) Entries for Installment Note Transactions