Entries for issuing and calling bonds; loss Hoover Corp., a wholesaler of music equipment, issued $10,000,000...
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Entries for issuing and calling bonds; loss Hoover Corp., a wholesaler of music equipment, issued $10,000,000 of 20-year, 5% callable bonds on March 1, 2012, at their face amount, with interest payable on March 1 and September 1. The fiscal year of the company is the calendar year. Journalize the entries to record the following selected transactions: 2012 March 1 September 11 2014 September 1 Issued the bonds for cash at their face amount. Paid the interest on the bonds. Called the bond issue at 102, 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. Issued the bonds for cash at their face amount. Date Account 2012 Mar. 1 Paid the interest on the bonds. Date 2012 Sept. 1 Debit Credit Account Debit Credit Entries for issuing and calling bonds; loss Hoover Corp., a wholesaler of music equipment, issued $10,000,000 of 20-year, 5% callable bonds on March 1, 2012, at their face amount, with interest payable on March 1 and September 1. The fiscal year of the company is the calendar year. Journalize the entries to record the following selected transactions: 2012 March 1 September 11 2014 September 1 Issued the bonds for cash at their face amount. Paid the interest on the bonds. Called the bond issue at 102, 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. Issued the bonds for cash at their face amount. Date Account 2012 Mar. 1 Paid the interest on the bonds. Date 2012 Sept. 1 Debit Credit Account Debit Credit
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