n View Policies Current Attempt in Progress Pronghorn Inc. issued $3,780,000 of 10%, 10-year convertible bonds on June 1, 2020, at 99 plus accrued interest. The bonds were dated April 1, 2020, with interest payable April 1 and October 1. Bond discount is amortized semiannually on a straight-line basis. On April 1, 2021, $1,417,500 of these bonds were converted into 36,000 shares of $21 par value common stock. Accrued interest was paid in cash at the time of conversion. (a) (b) Prepare the entry to record the interest expense at October 1, 2020. Assume that accrued interest payable was credited when the bonds were issued. Prepare the entry to record the conversion on April 1, 2021. (Book value method is used.) Assume that the entry to record amortization of the bond discount and interest payment has been made.

Current Attempt in Progress Pronghorn Inc issued $3,780,000 of 10%,10-year convertible bonds on June 1,2020 , at 99 plus accrued interest. The bonds were dated April 1; 2020, with interest payable April 1 and October 1. Bond discount is amortized semiannually on a straight-line basis. On April 1, 2021, $1,417,500 of these bonds were converted into 36,000 shares of $21 par value common stock. Accrued interest was paid in cash at the time of conversion. (a) Prepare the entry to record the intefest expense at October 1,2020. Assume that accrued interest payable was credited when the bonds were issued. (b) Prepare the entry to record the conversion on April 1, 2021. (Book value method is used.) Assume that the entry to record amortization of the bond discount and interest payment has been made. Tamarisk Company reported the following amounts in the stockholders cquity section of its December 31,2019 , balance sheet. During 2020, Tamarisk took part in the following transactions concerning stockholders equity. 1. Paid the annual 2019 dividend on preferred stock and a 50.50 per share dividend on common stock. These dividends had been declared on December 31.2019. 2. Purchased 1,100 shares of its own outstanding common stock for $8 per share. Tamarisk uses the cost method. 3. Reissued 1,100 treasury shares for land with an appraised value of $9,500. Tamarisk's common shares were trading for $8.50 pershare 4. Issued 52,000 shares of common stock at $9 per share