Entries for Issuing and Calling Bonds; Loss Rushton Corp., a wholesaler of music equipment, issued $18,760,000 of 15-year, 13% 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 104, the rate provided in the bond indenture. (Omit entry for payment of interest.) Journalize the entries to record the above selected transactions. Question Content Area Issued the bonds for cash at their face amount. If an amount box does not require an entry, leave it blank. 20Y1 Mar. 1 Question Content Area Paid the interest on the bonds. If an amount box does not require an entry, leave it blank. 20Y1 Sept. 1 Question Content Area Called the bond issue at 104, 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. 20Y5 Sept. 1
Entries for Issuing and Calling Bonds; Loss Rushton Corp., a wholesaler of music equipment, issued $18,760,000 of 15-year, 13% 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 104, the rate provided in the bond indenture. (Omit entry for payment of interest.) Journalize the entries to record the above selected transactions. Question Content Area Issued the bonds for cash at their face amount. If an amount box does not require an entry, leave it blank. 20Y1 Mar. 1 Question Content Area Paid the interest on the bonds. If an amount box does not require an entry, leave it blank. 20Y1 Sept. 1 Question Content Area Called the bond issue at 104, 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. 20Y5 Sept. 1
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Entries for Issuing and Calling Bonds; Loss
Rushton Corp., a wholesaler of music equipment, issued $18,760,000 of 15-year, 13% 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 104, the rate provided in the bond indenture. (Omit entry for payment of interest.) |
Question Content Area
Issued the bonds for cash at their face amount. If an amount box does not require an entry, leave it blank.
| 20Y1 Mar. 1 |
|
||
|
|
Question Content Area
Paid the interest on the bonds. If an amount box does not require an entry, leave it blank.
| 20Y1 Sept. 1 |
|
||
|
|
Question Content Area
Called the bond issue at 104, 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.
| 20Y5 Sept. 1 |
|
||
|
|
|||
|
|
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