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Entries for Issuing and Calling Bonds; Loss Rushton Corp., a wholesaler of music equipment, issued $ 1 6 , 0 8 0 , 0 0
Entries for Issuing and Calling Bonds; Loss
Rushton Corp., a wholesaler of music equipment, issued $ of year, callable bonds on March Y at their face amount, with interest payable on March and September The fiscal year of the company is the calendar year.
Y
Mar. Issued the bonds for cash at their face amount.
Sept. Paid the interest on the bonds.
Y
Sept. Called the bond issue at the rate provided in the bond indenture. Omit entry for payment of interest.
Journalize the entries to record the above selected transactions.
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Issued the bonds for cash at their face amount. If an amount box does not require an entry, leave it blank.
Y Mar.
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Paid the interest on the bonds. If an amount box does not require an entry, leave it blank.
Y Sept.
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Called the bond issue at 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.
Y Sept.
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