Brubeck Co issued $10,000,000 of 30 year, 8 callable bonds on May 1 of Year 1, 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 Required (a) Issued the bonds for cash at their face amount (b) Paid the interest on the bonds on November 1 of Year 3 (c) Called one fourth of the bonds at 104, the rate provided in the bond indenture, on May 1 of Year 10 (Omit entry for payment of interest ) Refer to the Chart of Accounts for exact wording of account titles If required, round your final answers to the nearest dollar

Question

Brubeck Co  issued $10,000,000 of 30 year, 8  callable bonds on May 1 of Year 1, 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  Required  (a) Issued the bonds for cash at their face amount   (b) Paid the interest on the bonds on November 1 of Year 3   (c) Called one fourth of the bonds at 104, the rate provided in the bond indenture, on May 1 of Year 10  (Omit entry for payment of interest )   Refer to the Chart of Accounts for exact wording of account titles  If required, round your final answers to the nearest dollar

Accepted Answer

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(a)	Issued the bonds for cash at their face amount.*
(b)	Paid the interest on the bonds on November 1 of Year 3.*
(c)	Called one-fourth of the bonds at 104, the rate provided in the bond indenture, on May 1 of Year 10. (Omit entry for payment of interest.)*
	*Refer to the Chart of Accounts for exact wording of account titles. If required, round your final answers to the nearest dollar.

Question

Brubeck Co. issued $10,000,000 of 30-year, 8% callable bonds on May 1 of Year 1, with interest payable on May 1 and November 1. The

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