Concord inc issued $4,260,000 of 10% 10 year convertible bonds on June 1,2020, at 98 plus accrued interest. the bomds were dated April 1, 2002 with interest paybple April 1 and October 1 bomd discount is amortized semi-annually on a straight line basis.

April 1, 2021 $1,597,500 of these boonds were converted into 33000 shares of $20 par value common stock. accused interest was pais in case at the same time of conversion.

a. prepare the entry to record the interest expense at oct 1,2020 assume that a ruse interest payable was credited when the bimds were issued

b. prepare the entry to record the conversion ok April 1, 2021 ( book value method used) assume that the entry to record amortization of the bomd discount and interest payment has been made.

Current Attempt in Progress Concord Inc issued $4.260.000 of 10%,10 year conventible bonds on June 1.2020, at 98 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 straght-line basis. On April 1, 2021,51,597,500 of these bonds were converted into 33,000 shares of $20 par value common stock. Accrued interest was paid in cash at the time of conversion. (a) Prepare the entry to record the interest expense at October 1, 2020. Assume that accrued interest payable was credited when the bonds were issued. (b) Prepare the entry to record the comversion on Aprili 1, 2021. (Bookvalue method is used) Assume that the entry to record amortization of the bond discount and interest payment has been made. (Credit occount tites are automotically indented wher amount is enternd. Do not indent manual). If no entry is required, select "No Entry" for the occount tittes and enter Ofor the amounts Round answers to O decimal ploces, es 5,125)