upola Fan Corporation issued 12%, $580,000, 10-year bonds for $552,000 on June 30, 2024. Debt issue costs were $3,300. Interest is paid semiannually on December 31 and June 30. One year from the issue date (July 1, 2025), the corporation exercised its call privilege and retired the bonds for $560,000. The corporation uses the straight-line method both to determine interest expense and to amortize debt issue costs. Required: 1. to 4. Prepare the journal entries to record the issuance of the bonds, the payment of interest and amortization of debt issue costs on December 31, 2024 & June 30, 2025, and the call of the bonds. Note: If no entry is required for a transaction/event, select "No journal
Cupola Fan Corporation issued 12%, $580,000, 10-year bonds for $552,000 on June 30, 2024. Debt issue costs were $3,300. Interest is paid semiannually on December 31 and June 30. One year from the issue date (July 1, 2025), the corporation exercised its call privilege and retired the bonds for $560,000. The corporation uses the straight-line method both to determine interest expense and to amortize debt issue costs. Required: 1. to 4. Prepare the
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