175. On the first day of the current fiscal year, $1,000,000 of 10-year, 7% bonds, with interest payable semiannually, were sold for $1,050,000. Present entries to record the following transactions for the current fiscal year:
176. Present entries to record the selected transactions described below:
(a)Issued $3,250,000 of 10-year, 8% bonds at 97.
(b)Amortized bond discount for a full year, using the straight-line method.
(c)Called bonds at 98. The bonds were carried at $3,175,500 at the time of the redemption.
177. A company issued $2,000,000 of 30-year, 8% callable bonds on April 1, 2011, 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: