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Entries for Issuing and Calling Bonds; Loss Adele Corp., a wholesaler of music equipment, issued $3,750,000 of 15-year, 10% callable bonds on March 1, 20Y1,
Entries for Issuing and Calling Bonds; Loss Adele Corp., a wholesaler of music equipment, issued $3,750,000 of 15-year, 10% 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. 2045 Sept. 1 Called the bond issue at 102, 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 Bonds Payable Feedback Paid the interest on the bonds. 20Y1 Sept. 1 Interest Expense Cash Feedback Called the bond issue at 102, 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. 2015 Sept. 1 Bonds Payable Loss on Redemption of Bonds Cash
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