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On April $1,2025,$ Sweet Company sold $22,500$ of its $11\%,15-$year, $$1,000$ face value bonds at $97.$ Interest payment dates are April $1$ and October $1,$ and the company uses the straight$-$line method of bond discount amortization. On March $1,2026,$ Sweet took advantage of favorable prices of its stock to extinguish $5,400$ of the bonds by issuing $178,200$ shares of its $$10$ par value common stock. At this time, the accrued interest was paid in cash. The company's stock was selling for $$32$ per share on March $1,2026.$

Prepare the journal entries needed on the books of Sweet Company to record the following. $($Do not round intermediate colculations. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.$)$

$($a$)$ April $1,2025$: issuance of the bonds.

$($b$)$ October $1,2025$: payment of semiannual interest.

$($c$)$ December $31,2025$: accrual of interest expense.

$($d$)$ March $1,2026$: extinguishment of $5,400$ bonds. $($No reversing entries made.$)$

No$.$

Date

Account Titles and Explanation

Debit

Credi

$($a$)$

$$

$($b$)$

$$

$$

$$

III II I

$$

$$

$$

$$

$$

$$

$$

$($c$)$

$$

$$

$$

$$

$$

$$

$$

$$

$($d$)$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$($To record interest and discount on bonds retired$)$Question $4$ of $6$

$-/4$

$($b$)$

$($c$)$

$($d$)$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$($To record interest and discount on bonds retired$)$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$($To record extinguishment of the bonds$)$

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Attempts: $0$ of $5$ used

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