Transcribed Image Text: Entries for Isuing and Calling Bonds; Loss Rushton Corp., a wholesaler of music equipment, issued $17,800,000 of 15-year, 12% callable bonds on March 1, 20Y1, at their

Transcribed Image Text: Entries for Isuing and Calling Bonds; Loss
Rushton Corp., a wholesaler of music equipment, issued $17,800,000 of 15-year, 12% 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.
20Y1
Mar. 1
Issued the bonds for cash at their face amount.
Sept. 1 Paid the interest on the bonds.
20Υ5
Sept. 1 Called the bond issue at 102, the rate provided in the bond indenture.
(Omit entry for payment of interest.)
Journalize the entries to record the above selected transactions.
Issued the bonds for cash at their face amount. If an amount box does not require an entry, leave it blank.
20Y1 Mar. 1
Paid the interest on the bonds. If an amount box does not require an entry, leave it blank.
20Y1 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.
20Y5 Sept. 1

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