20Y1 Mar. 1 Issued the bonds for cash at their face amount. Sept. 1 Paid the interest on the bonds. 20Y5
20Y1 Mar. 1 Issued the bonds for cash at their face amount. Sept. 1 Paid the interest on the bonds. 20Y5
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter14: Long-term Liabilities: Bonds And Notes
Section: Chapter Questions
Problem 8E
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Question
Rushton Corp., a wholesaler of music equipment, issued $11,000,000 of 20-year, 9% callable bonds on March 1, 20Y1, at their face amount, with interest payable on March 1 and September 1. The fiscal year of the company is the calendar year.
20Y1 | |
Mar. 1 | Issued the bonds for cash at their face amount. |
Sept. 1 | Paid the interest on the bonds. |
20Y5 | |
Sept. 1 | Called the bond issue at 101, the rate provided in the bond indenture. (Omit entry for payment of interest.) |
Issued the bonds for cash at their face amount. If an amount box does not require an entry, leave it blank.
Paid the interest on the bonds. If an amount box does not require an entry, leave it blank.
Called the bond issue at 101, 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.
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