Hoover Corp., a wholesaler of music equipment, issued $$18,450,000$ of $10-$year, $13\%$ callable bonds on March $1,20$Y$2,$ at their face amount, with interest payable on March $1$ and September $1.$ The fiscal year of the company is the calendar year.

$20$Y$2$

Date Transaction

March $1$ Issued the bonds for cash at their face amount.

September $1$ Paid the interest on the bonds.

$20$Y$4$

Date Transaction

September $1$ Called the bond issue at $103,$ 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.

Journalize the entries to record the above selected transactions.

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Issued the bonds for cash at their face amount.

DateAccountDebitCredit

$20$Y$2$ Mar. $1$

Cash

Bonds Payable

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Feedback

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Paid the interest on the bonds.

DateAccountDebitCredit

$20$Y$2$ Sept. $1$

Interest Expense

Cash

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Feedback

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Called the bond issue at $103,$ the rate provided in the bond indenture. $($Omit entry for payment of interest.$)$

DateAccountDebitCredit

$20$Y$4$ Sept. $1$

Bonds Payable

Loss on Redemption of Bonds

Cash