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Entries for issuing and calling bonds; loss Hoover Corp., a wholesaler of music equipment, issued $9,990,000 of 20-year, 9% callable bonds on March 1, 20Y2,

image text in transcribedEntries for issuing and calling bonds; loss

Hoover Corp., a wholesaler of music equipment, issued $9,990,000 of 20-year, 9% callable bonds on March 1, 20Y2, at their face amount, with interest payable on March 1 andSeptember 1. The fiscal year of the company is the calendar year.

20Y2

March 1 Issued the bonds for cash at their face amount.

September 1 Paid the interest on the bonds.

20Y4

September 1 Called the bond issue at 104, 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.

20Y2 Mar. 1

Paid the interest on the bonds.

20Y2 Sept. 1

Called the bond issue at 104, the rate provided in the bond indenture. (Omit entry for payment of interest.)

Paid the interest on the bonds. 20Y2 Sept. 1 Called the bond issue at 104 , the rate provided in the bond indenture. (Omit entry for payment of interest.) Paid the interest on the bonds. 20Y2 Sept. 1 Called the bond issue at 104 , the rate provided in the bond indenture. (Omit entry for payment of interest.)

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