Rushton Corp., a wholesaler of music equipment, issued $$29,700,000$ of $20-$year, $6\%$ callable bonds on March $1,20$Y$1,$ at their face amount, with interest payable on March $1$ and September $1.$ The fiscal year of the company is the calendar year.

Required:

Journalize the entries to record the following selected transactions. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

$20$Y$1$

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

Sept. $1$ Paid the interest on the bonds.

$20$Y$5$

Sept. $1$ Called the bond issue at $105,$ the rate provided in the bond indenture. $($Omit entry for payment of interest.$)$