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Hoover Corp., a wholesaler of music equipment, issued $4,230,000 of 15-year, 11% callable bonds on March 1, Year 1, at their face amount, with interest

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Hoover Corp., a wholesaler of music equipment, issued $4,230,000 of 15-year, 11% 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 Paid 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 Cash 4,230,000 Bonds Payable 4,230,000 Feedback Paid the interest on the bonds. Year 1 Sept. 1 Interest Expense 31,020 x Cash 31,020 Feedback Called the bond issue at 102, 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. Year 3 Sept. 1 Bonds Payable Loss on Redemption of Bonds Cash

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