Question: Entries for Issuing and Calling Bonds; Gain Ma Breen Corp, produces and sells wind-energy-driven engines. To finance its operations, Mia Breen issued $1,579,000 of 15-year,

 Entries for Issuing and Calling Bonds; Gain Ma Breen Corp, produces

Entries for Issuing and Calling Bonds; Gain Ma Breen Corp, produces and sells wind-energy-driven engines. To finance its operations, Mia Breen issued $1,579,000 of 15-year, 9% callable bonds on May 1, 2045, at their face amount with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. Journalize the entries to record the following selected transactions 2015 May 1 Issued the bonds for cash at their face amount Nov. 1 Paid the interest on the bonds 2049 Nov, 1 called the bond issue at 98, the rate provided in the bond Indenture. (Omit entry for payment of interest.) Tan amount box does not require an entry, leave it blank Issued the bonds for cash at their face amount 2015 May 1 Paid the interest on the bonds 2045 Nov. 1 Called the bond issue at 98, the rate provided in the bond indenture. (Omit entry for payment of interest.) 2009 Nov. 1

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