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dillip corp wholesaler office equipment issued 45000000 10 year 10 callable bonds march 1 20
Dillip Corp., a wholesaler of office equipment, issued $45,000,000 of 10-year, 10% callable bonds on March 1, 2012, with interest payable on March 1 and September 1. The fiscal year of the company is the calendar year. Journalize the entries to record the following selected transactions. 2012 March 1. Issued the bonds for cash at their amount. Sept 1 . Paid the interest on the bonds. 2016 Sept 1. Called the bond issue at 103, the rate provided in the bond indenture. (Omit entry for payment of interest.)