Question
Entries for Issuing and Calling Bonds; Loss Adele Corp., a wholesaler of music equipment, issued $8,650,000 of 15-year, 11% callable bonds on March 1, 20Y1,
Entries for Issuing and Calling Bonds; Loss
Adele Corp., a wholesaler of music equipment, issued $8,650,000 of 15-year, 11% callable bonds on March 1, 20Y1, at their face amount, with interest payable on March 1 and September 1. The fiscal year of the company is the calendar year.
| 20Y1 | |
| Mar. 1 | Issued the bonds for cash at their face amount. |
| Sept. 1 | Paid the interest on the bonds. |
| 20Y5 | |
| Sept. 1 | Called the bond issue at 104, the rate provided in the bond 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.
| 20Y1 Mar. 1 | Cash | fill in the blank 2c3f3404704bff8_2 | |
| Bonds Payable | fill in the blank 2c3f3404704bff8_4 |
Paid the interest on the bonds.
| 20Y1 Sept. 1 | Interest Expense | fill in the blank 09beb5fe9f91fd9_2 | |
| Cash | fill in the blank 09beb5fe9f91fd9_4 |
Called the bond issue at 104, 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.
| 20Y5 Sept. 1 | fill in the blank 6b91fcfd5fd3035_2 | fill in the blank 6b91fcfd5fd3035_3 | |
| fill in the blank 6b91fcfd5fd3035_5 | fill in the blank 6b91fcfd5fd3035_6 | ||
| fill in the blank 6b91fcfd5fd3035_8 | fill in the blank 6b91fcfd5fd3035_9 |
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Managing The Audit Function A Corporate Audit Department Procedures Guide
Authors: Michael P. Cangemi, Tommie W. Singleton
3rd Edition
0471281190, 978-0471281191
