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Entries for Issuing and Coling Bonds; Loss Hoover Corp., a wholesaler of music equipment, issued 59,100,000 of 20-year, 9% callable bonds on March 1, Year

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Entries for Issuing and Coling Bonds; Loss Hoover Corp., a wholesaler of music equipment, issued 59,100,000 of 20-year, 9% callable bonds on March 1, Year 1, at their face amount, with interest payable on March 1 and September 1. The fiscal year of the company is the calendar year Year 1 Mar. 1 Issued the bonds for cash at their face amount Sept. 1 Pald the interest on the bonds, Year 3 Sept. 1 Called the bond issue at 102, the rate provided in the bond indenture, (Omit entry for payment of interest.) Journalize the entries to record the above selected transactions. Issued the bonds for cash at their face amount Year 1 Mar 1 Paid the interest on the bonds Year 1 Sept 1 Called the bond issue at 102, the rate provided in the bond indeature. (Omit entry for payment of interest.) If an amount box does not require an entry, leave it blank Year 3 Sept. 1 8

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