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Entries for Issuing and Calling Bonds; Loss Rushton Corp., a wholesaler of music equipment, Issued $11,000,000 of 20-year, 9% callable bonds on March 1, 2041,

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Entries for Issuing and Calling Bonds; Loss Rushton Corp., a wholesaler of music equipment, Issued $11,000,000 of 20-year, 9% callable bonds on March 1, 2041, at their face amount, with interes 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: 2011 Mar. 1 Issued the bonds for cash at their face amount. Sept. 1 Paid the interest on the bonds. 2015 Sept. 1 Called the bond issue at 101, the rate provided in the bond Indenture, (Omit entry for payment of interest.) Issued the bonds for cash at their face amount. If an amount box does not require an entry leave it blank 2011 Mar. 1 Paid the interest on the bonds. If an amount box does not require an entry leave it bank, 2011 Sept. 1

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