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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, 2011,

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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, 2011, at their face amount, with interest payable on March 1 and September 1. The fiscal year of the company is the calendar year. Joumalize the entries to record the following selected transactions: 2011 Mar. 1 Issued the bonds for cash at their face amount. Paid the interest on the bonds. Sept. 1 20YS Sept. 1 Called the bond issue at 101, the rate provided in the bond indenture. (Omit entry for payment of interest.)

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