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H 28 Cell Styles L M 29 F29 A Xfx 9331200 B C D E F G H J K Hoover Corp., a wholesaler
H 28 Cell Styles L M 29 F29 A Xfx 9331200 B C D E F G H J K Hoover Corp., a wholesaler of music equipment, issued $9,720,000 of 20-year, 9% callable bonds on March 1, 2021, at their face amount, 2 with interest payable on March 1 and September 1. 3 4 3/1/21 Issued the bonds for cash at their face amount. 5 9/1/21 Paid the interest on the bonds. 6 9/1/23 Called the bond issue at 96, the rate provided in the bond indenture. 7 8 Journalize the entries to record the transactions for years 1-3 (including the entries in year 2). 19 Year 1 10 3/1/21 Cash 9,720,000 11 Bonds Payable 9,720,000 12 13 9/1/21 Interest Expense 437,400 14 Cash 437,400 15 16 Year 2 17 3/1/22 Cash 9,282,600 18 Bonds Payable 9,720,000 19 20 9/1/22 Interest Expense 417,717 21 Cash 417,717 22 23 Year 3 24 3/1/23 Cash 8,864,883 125 20 26 Bonds Payable 9,720,000 27 9/1/23 Bonds Payable 9,720,000 -N 28 29 Gain Cash 388,800 9,331,200 20 311 1 2 4 5 7 + -4 Ready an 30
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