Show Me How Caculator Print Item ntries for issuing and calling bonds; loss of J

Question

Show Me How Caculator Print Item ntries for issuing and calling bonds; loss of Journal Adele Corp, a wholesaler of music equipement, issued $11,200,000 of 20-year, 9 March 1 and September 1 The fiscal yeas of the company is the calendar yeat callable bonds on March 1,20Y1, at thes tace ansount, with interest payable on Joumalee the entries to reoord the following sclected transactions. Reler to the Chant of Accouns for exact wonding of account les 20Y1 Mar 1 Sept 1 20YS Sept 1 Issued the bonds for cash at ther face amount Pad the interest on the bonds Caled the bond issuse at s05, the sae piovided in the bond indentune (Omnt entry tor payment of interest.) 2 more Check My Wiork uses remaining Previous All work saved

Explanation / Answer

1-Mar Cash 11200000        Bonds Payable 11200000 1-Sep Interest Expense 504000 =11200000*9%/2         Cash 504000 1-Sep Bonds Payable 11200000 Loss On Early Redemption of Debt 560000         Cash 11760000 =11200000*1.05

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