Question
Entries for Issuing and Calling Bonds; Gain Emil Corp. produces and sells wind-energy-driven engines. To finance its operations, Emil Corp. issued $1,114,000 of 20-year, 11%
Entries for Issuing and Calling Bonds; Gain Emil Corp. produces and sells wind-energy-driven engines. To finance its operations, Emil Corp. issued $1,114,000 of 20-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. 20Y5 Nov. 1 Called the bond issue at 98, the rate provided in the bond indenture. (Omit entry for payment of interest.) Issued the bonds for cash at their face amount. If an amount box does not require an entry, leave it blank. 20Y1, May 1 fill in the blank fc1e0d02d06906e_2 fill in the blank fc1e0d02d06906e_3 fill in the blank fc1e0d02d06906e_5 fill in the blank fc1e0d02d06906e_6 Paid the interest on the bonds. If an amount box does not require an entry, leave it blank. 20Y1, Nov. 1 fill in the blank 623440fa103cff2_2 fill in the blank 623440fa103cff2_3 fill in the blank 623440fa103cff2_5 fill in the blank 623440fa103cff2_6 Called the bond issue at 98, the rate provided in the bond indenture. (Omit entry for payment of interest.) If an amount box does not require an entry, leave it blank. 20Y5, Nov. 1 fill in the blank 4ddb24f7b075fec_2 fill in the blank 4ddb24f7b075fec_3 fill in the blank 4ddb24f7b075fec_5 fill in the blank 4ddb24f7b075fec_6 fill in the blank 4ddb24f7b075fec_8 fill in the blank 4ddb24f7b075fec_9
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