On April $30,2018,$ Seminole Company sold $15,000$ of its $11\%,15-$year, $$1,000$ face value bonds at $97,$ a price which yields a $11\mathrm{.}24\%$ return semi$-$annually$).$ Interest payment dates are April $30$ and October $31,$ and the company uses the effectiveinterest method of bond premium$/$discount amortization. On March $1,2021,$ Seminole took advantage of favorable prices of its stock to extinguish $6,000$ of the bonds by issuing $200,000$ shares of its $$10$ par value common stock. At this time, the accrued interest on the retired bonds was paid in cash. The company's stock was selling for $$31$ per share on March $1,2021.$ Originally, when the bonds were sold, investors demanded a call premium of $102$ if any of the bonds were retired early. Seminole has a $\frac{12}{31}$ year end, prepares monthly financial statements, and makes monthly interest accruals. Note: due to this fact, your journal entries will differ from your amortization table.

Instructions:

Prepare the journal entries needed on the books of Seminole Company to record the following.

April $30,2018$: issuance of the bonds.

October $31,2018$: payment of semiannual interest.

December $31,2018$ : accrual of interest expense.

March $1,2021$: extinguishment of $6,000$ bonds.

To determine the proper journal entries, you need to first complete the amortization table below: