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Entries for Issuing and Calling Bonds; Loss Adele Corp., a wholesaler of music equipment, issued $14,140,000 of 10-year, 10% callable bonds on March 1, 20Y1, at their face amount, with interest payable on March 1 and September 1. The fisca 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 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. 20Y1 Mar. 1 Cash ✓ Bonds Payable Feedback Check My Work Partially correct Paid the interest on the bonds. 20Y1 Sept. 1 Interest Expense Cash Feedback

Entries for Issuing and Calling Bonds; Loss Adele Corp., a wholesaler of music equipment, issued $14,140,000 of 10-year, 10% callable bonds on March 1, 20Y1, at their face amount, with interest payable on March 1 and September 1. The fisca 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 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. 20Y1 Mar. 1 Cash ✓ Bonds Payable Feedback Check My Work Partially correct Paid the interest on the bonds. 20Y1 Sept. 1 Interest Expense Cash Feedback

Financial Accounting
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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Entries for Issuing and Calling Bonds; Loss Adele Corp., a wholesaler of music equipment, issued $14,140,000 of 10-year, 10% 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 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. 20Y1 Mar. 1 Cash Feedback Bonds Payable Check My Work Partially correct Paid the interest on the bonds. 20Y1 Sept. 1 Interest Expense Cash Feedback Check My Work
Transcribed Image Text:Entries for Issuing and Calling Bonds; Loss Adele Corp., a wholesaler of music equipment, issued $14,140,000 of 10-year, 10% 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 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. 20Y1 Mar. 1 Cash Feedback Bonds Payable Check My Work Partially correct Paid the interest on the bonds. 20Y1 Sept. 1 Interest Expense Cash Feedback Check My Work
Called the bond issue at 102, the rate provided in the bond indenture. (Omit entry for payment of interest.) For a compound transaction, if an amount box does not require an entry, leave it blank. 20Y5 Sept. 1 Bonds Payable 88 Loss on Redemption of Bonds Cash
Transcribed Image Text:Called the bond issue at 102, the rate provided in the bond indenture. (Omit entry for payment of interest.) For a compound transaction, if an amount box does not require an entry, leave it blank. 20Y5 Sept. 1 Bonds Payable 88 Loss on Redemption of Bonds Cash
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