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Entries for Issuing and Calling Bonds; Gain Emit Corp. produces and sells wind-energy-driven engines. To finance its operations, Emil Corp. issued 3921,000 of 10 -yeac,
Entries for Issuing and Calling Bonds; Gain Emit Corp. produces and sells wind-energy-driven engines. To finance its operations, Emil Corp. issued 3921,000 of 10 -yeac, 14\% catable bonds on May 1 , 20r1, at their face: amount, with interest pavable on May 1 and November 1 . The fsscal vear of the company is the calendar year. Jourralize the entries to record the following selected transactions: 20rd May 1 issued the bends for cash at their face amount Nov: 1 paid the interest on the bonds. 20205 Nov. 1 called the bend issue at 95 , the rate provided in the bond indenture. (Cmit ectry for payment of interest.) Issued the bonds for cash at their face amount 20r2, May 1 Paid the interest on the bonds. 20r1, Nov, 1 Called the bond issue at 95 , the rate presided in the bond indenturn: (Omit entry for payenent of interest). For a compound transaction, if an amount bok dhes not require an entry, leave it blank
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