Hoover Corp., a wholesaler of music equipment, issued $17,850,000 of 25-year, 10% 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. 20Υ2 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 102, 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.

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Entries for Issuing and Calling Bonds; Los
Hoover Corp., a wholesaler of music equipment, issued $17,850,000 of 25-year, 10% 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.
20Υ2
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 102, 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.
Transcribed Image Text:Entries for Issuing and Calling Bonds; Los Hoover Corp., a wholesaler of music equipment, issued $17,850,000 of 25-year, 10% 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. 20Υ2 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 102, 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.
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