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Adele Corp., a wholesaler of music equipment, issued $11,960,000 of 15-year, 8% catable bonds on March 1, 2011, at their face amount, with interest payable
Adele Corp., a wholesaler of music equipment, issued $11,960,000 of 15-year, 8% catable bonds on March 1, 2011, at their face amount, with interest payable on March 1 and September 1. The fiscal year of the company is the calendar year. 2011 Mar. 1 Issued the bonds for cash at their face amount Sept. 1. Poid the interest on the bonds 2015 Sept. 1 Called the bond issue at 103, the rate provided in the band indenture. (Omit entry for payment of interest.) Journalize the entries to record the above selected transactions. Issued the bonds for cash at their face amount 2011 Mar, 1 Cash Bonds Payable Paid the interest on the bands 2011 Sept. 1 Interest Expense Cash Called the bond seat 103, the rate provided in the song indenture. Comt entry for payment of interest.) For a compound transaction, if an amount box does not require an entry leave it blank 2015 Sept. 1 Bonds Payable Loss on Redemption of Bands Cash
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