Transcribed Image Text: tries for issuing and calling bonds; loss Instructions Chart of Accounts Journal ustructions oover Corp., a wholesaler of music equipment, issued $32,700,000 of 20-year, 6% callable bonds

Transcribed Image Text: tries for issuing and calling bonds; loss
Instructions
Chart of Accounts
Journal
ustructions
oover Corp., a wholesaler of music equipment, issued $32,700,000 of 20-year, 6% callable bonds on March 1, 20Y2, at their face amount, with interest payable on March 1 and
eptember 1. The fiscal year of the company is the calendar year.
purnalize the entries to record the following selected transactions. Refer to the Chart of Accounts for exact wording of account titles.
20Υ2
Mar.
Issued the bonds for cash at their face amount.
1
Sept.
1
Paid the interest on the bonds.
20Υ4
Sept.
Called the bond issue at 102, the rate provided in the bond indenture. (Omit entry for payment of
1
interest.)
Previous
Nex

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