Instructions Chart of Accounts Journal Instructions Rushton Corp., a wholesaler of music equipment, issued $31,400,000 of 20-year, 5% 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. Required: Journalize the entries to record the following selected transactions. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. 20Y1 Mar. Sept. 20Y5 1 Issued the bonds for cash at their face amount. 1 Paid the interest on the bonds.
Instructions Chart of Accounts Journal Instructions Rushton Corp., a wholesaler of music equipment, issued $31,400,000 of 20-year, 5% 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. Required: Journalize the entries to record the following selected transactions. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. 20Y1 Mar. Sept. 20Y5 1 Issued the bonds for cash at their face amount. 1 Paid the interest on the bonds.
Chapter1: Financial Statements And Business Decisions
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Instructions Chart of Accounts
Instructions
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Rushton Corp., a wholesaler of music equipment, issued $31,400,000 of 20-year, 5% 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.
Required:
Journalize the entries to record the following selected transactions. Refer to the chart of accounts for the exact wording of the
account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit
entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.
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