Entries for Issuing and Calling Bonds; Loss Rushton Corp., a wholesaler of music equipment, issued $10,250,000 of 20-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 104, the rate provided in the bond indenture. (Omit entry for payment of interest.) Journalize the entries to record the above selected transactions.
Entries for Issuing and Calling Bonds; Loss
Rushton Corp., a wholesaler of music equipment, issued $10,250,000 of 20-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 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 |
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Question Content Area
Paid the interest on the bonds. If an amount box does not require an entry, leave it blank.
| 20Y1 Sept. 1 |
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- Select - | - Select - |
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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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- Select - | - Select - |
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- Select - | - Select - | |
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- Select - | - Select - |
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