Question

Polders Corp., a wholesaler of office equipment, issued $40,000,000 of 10-year, 8% callable bonds on April 1, 2014, with interest payable on April 1 and October 1. The fiscal year of the company is the calendar year. Journalize the entries to record the following selected transactions:
2014
Apr. 1. Issued the bonds for cash at their face amount.
Oct. 1. Paid the interest on the bonds.
2018
Oct. 1. Called the bond issue at 104, the rate provided in the bond indenture.
(Omit entry for payment of interest.)



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  • CreatedFebruary 28, 2014
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