Entries for Issuing and Calling Bonds; Gain Emil Corp. produces and sells ind energy-d en engines. To finance its operations Emil Corp. ssued1,664,000 of 15-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 Nov, 1 Called the bond issue at 97, 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 Cash Bonds Payable Paid the interest on the bonds. 20Y1, Nov. 1 Interest Expense Cash V Called the bond issue at 97, 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. 20YS, Nov. 1 Bonds Payable Gain on Redemption of Bonds Cash