Hoover Corp., a wholesaler of music equipment, issued $16,700,000 of 15-year, 11% callable bonds on March 1, 20Y2, at their face amount, with interest payable on March 1 and September 1. The fiscal year of the company is the calendar year. 20Y2   Mar. 1 Issued the bonds for cash at their face amount. Sept. 1 Paid the interest on the bonds. 20Y4   Sept. 1 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. Journalize the entries to record the above selected transactions. Issued the bonds for cash at their face amount. 20Y2 Mar. 1 Cash  fill in the blank 63e826f4ffd705e_2 fill in the blank 63e826f4ffd705e_3   Bonds Payable  fill in the blank 63e826f4ffd705e_5 fill in the blank 63e826f4ffd705e_6   Feedback   Paid the interest on the bonds. 20Y2 Sept. 1 Interest Expense  fill in the blank 797adcff2069013_2 fill in the blank 797adcff2069013_3   Cash  fill in the blank 797adcff2069013_5 fill in the blank 797adcff2069013_6     Called the bond issue at 104, the rate provided in the bond indenture. (Omit entry for payment of interest.) 20Y4 Sept. 1 Bonds Payable  fill in the blank 98ec7cffffef078_2 fill in the blank 98ec7cffffef078_3   Loss on Redemption of Bonds  fill in the blank 98ec7cffffef078_5 fill in the blank 98ec7cffffef078_6   Cash  fill in the blank 98ec7cffffef078_8 fill in the blank 98ec7cffffef078_9

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Conversion Cycle

Conversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.