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Entries for issuing and calling bonds; loss Instructions Chart of Accounts Journal nstructions Adele Corp., a wholesaler of music equipment, issued $1 1,200,000 of 20-year,
Entries for issuing and calling bonds; loss Instructions Chart of Accounts Journal nstructions Adele Corp., a wholesaler of music equipment, issued $1 1,200,000 of 20-year, 9% callable bonds on March 1, 20 Y 1, at ther tace 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. Refer to the Chart of Accounts for exact wording of account tities. 20Y1 Mar. Sept. 20Y5 Sept. Issued the bonds for cash at their tace amount. Paid the interest on the bonds. Called the bond issue at 105, the rate provided in the bond indenture. (Omit entry for payment of interest.)
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