1)))On April 1, 2017, Sunland Company sold 33,300 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, 2018, Sunland took advantage of favorable prices of its stock to extinguish 4,800 of the bonds by issuing 158,400 shares of its $10 par value common stock. At this time, the accrued interest was paid in cash. The companys stock was selling for $31 per share on March 1, 2018. Prepare the journal entries needed on the books of Sunland Company to record the following. (Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answers to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

(a)		April 1, 2017: issuance of the bonds.
(b)		October 1, 2017: payment of semiannual interest.
(c)		December 31, 2017: accrual of interest expense.
(d)		March 1, 2018: extinguishment of 4,800 bonds. (No reversing entries made.)

d(To record payment to retiring bondholders) and (To record extinguishment of the bonds)

2)))Blue Cosmetics Co. purchased machinery on December 31, 2016, paying $51,000 down and agreeing to pay the balance in four equal installments of $60,000 payable each December 31. An assumed interest of 8% is implicit in the purchase price. Prepare the journal entries that would be recorded for the purchase and for (1) the payments and (2) interest on the following dates. (Round answers to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

(a)		December 31, 2016.
(b)		December 31, 2017.
(c)		December 31, 2018.
(d)		December 31, 2019.
(e)		December 31, 2020.