Need both the answers soon. Thank you for the help :)

1.

The Hamalainen Corporation, a publicly accountable entity, provides a customer loyalty

program for their customers. For every dollar of sales, customers earn one point. Points

can be redeemed for store merchandise as follows: every 500 points allows the customer

to purchase $15 of merchandise. On average, 60% of the customers have signed up for

this program and it is expected that the redemption rate will be 85%.

Sales for 20x0 were $23,000,000 and a total of 5,500,000 points were redeemed.

Required

Prepare the journal entries relating to the customer loyalty program for the year 20x0.

Only entries to the deferred revenues and revenues accounts are required.

2.

On February 15, 20x1, the Pistachio Corporation issues $8,000,000 of 4.5% bonds. The

bonds were dated December 31, 20x0, and are due on December 31, 20x14. The bonds

were issued to yield 4.8% and pay interest semi-annually on June 30 and December 31.

Required

Prepare all journal entries relative to this bond issue for the year ended December 31,

20x1.