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could some please help with this question? On Aprii 1, 2020, Bramble Company sold 18,900 of its 11%,15-year, $1,000 face value bonds at 97 .
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On Aprii 1, 2020, Bramble Company sold 18,900 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, 2021, Bramble took: advantage of favorable prices of its stock to extinguish 5,700 of the bonds by issuing 188,100 shares of its $10 par value common stock. At this time, the accrued interest was paid in cash. The company's stock was selling for $32 per share on March 1. 2021 . Prepare the journal entries needed on the books of Bramble Company to record the following. (Round intermedlate calculations to 6 declmal places, e.g. 1.251247 and final answers to O decimal places, eg. 38,548. If no entry is required, select "No Entry" for the account tilles and enter O for the amounts. Credit account titles are outomatically indented when amount is entered. Do not indent manually) (a) April 1.2020: issuance of the bonds: (b) October 1,2020: payment of semiannual interest: (c) December 31,2020:accrual of interest expense. (d) March 1,2021: extingulshment of 5,700 bonds, (No reversing entries made.) (a) 4/1/20 (b) 10/1/20 (c) 12;31/20 (d) 3/4/21 (To record interest and discount on bonds retired) /1/21 Step by Step Solution
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