Wilmer Co. produces and distributes fiber optic cable for use by telecommunications companies. Wilmer Co. issued \($7,500,000\) of 20-year, 8% bonds on April 1 of the current year, with interest payable on April 1 and October 1. The fiscal year of the company is the calendar year. Illustrate the effects on the accounts and hnancial statements of recording the following selected transactions.

Apr. 1 . Issued the bonds for cash at their face amount.

Oct. 1. Paid the interest on the bonds.

Apr. 1. Paid face value of bonds at maturity.