Entries for Issuing and Calling Bonds; Loss

Hoover Corp., a wholesaler of music equipment, issued $$12,490,000$ of $20-$year, $10\%$ callable bonds on March $1,20$ Y$,$ at their face amount, with interest payable on March $1$ and September $1.$ The fiscal yeal of the company is the calendar year.

$20Y2$

Mar. $1$ Issued the bonds for cash at their face amount.

Sept. $1$ Paid the interest on the bonds.

$20Y4$

Sept. $1$ Called the bond issue at $103,$ 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.

Journalize the entries to record the above selected transactions.

Issued the bonds for cash at their face amount.

$20$Y$2$ Mar. $1$

$$

$$

$$

$$

$$

Paid the interest on the bonds.

$20Y2$ Sept. $1$

$$

$$

$$

$$

Called the bond issue at $103,$ the rate provided in the bond indenture. $($Omit entry for payment of interest.$)$

$20$ Y Sept. $1$

$$

$$

$$

$$

$$