Question: The part below is the only issue needing to be resolved On April 1, 2020, Pina Colada Corp. sold 13,000 of its $1,000 face value,

 The part below is the only issue needing to be resolved

On April 1, 2020, Pina Colada Corp. sold 13,000 of its $1,000

The part below is the only issue needing to be resolved

face value, 15-year, 10% bonds at 91. Interest payment dates are April

On April 1, 2020, Pina Colada Corp. sold 13,000 of its $1,000 face value, 15-year, 10% bonds at 91. Interest payment dates are April 1 and October 1. The company uses the effective interest method. On March 1, 2021, Pina Colada extinguished 3,250 of the bonds by issuing 92,100 shares. At this time, the accrued interest was paid in cash to the bondholders whose bonds were being extinguished. In a separate transaction on March 1, 2021, 120,000 of the company's shares sold for $34 per share. ne, the racerated interest was paid yn cash (a1) Your answer is correct. Prepare Pina Colada Corp.'s journal entry to record the issuance of the bonds on April 1, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit 4/1/20 Cash 118300001 I Bonds Payable 11830000 SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TEXT LINK TO TEXT Your answer is correct. Provide an effective interest table for the bonds for two interest payment periods. (Round yield values to 4 decimal places, e.g. 52.7521 and final answers to 2 decimal places, e.g. 52.75.) Schedule of Bond Discount Amortization Effective Interest Method Discount Amortized Date Cash Paid Interest Expense Carrying Amount April 1 '20 11830000 Oct. 1 '20 650000 665796 15796 1845796 April 1 '21 650000 666685 16685 11862481 SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TEXT LINK TO TEXT (b) Your answer is partially correct. Try again. Prepare Pina Colada Corp.'s journal entry to record the payment of the semi-annual interest on October 1, 2020. (Round yield values to 4 decimal places, e.g. 52.7521 and final answers to 2 decimal places, e.g. 52.75. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit 650000 10/1/20 Cash i Gain on Redemption of Gain on Redemption of 16685 TBonds Payable LINK TO TEXT LINK TO TEXT A L L ALL! A L . .. ... . ... .... . ..LL L LL

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