NEED DISCOUNT ON BONDS PAYABLE AND PAID-IN CAPITAL IN EXCESS OF PAR- COMMON STOCK. thanks

Your answer is partially correct. Sunland Inc issued $4,290,000 of 10%, 10-year convertible bonds on June 1, 2020, at 99 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 straight-line basis. On April 1, 2021. $1,608,750 of these bonds were converted into 34,000 shares of $19 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. Prepare the entry to record the conversion on April 1, 2021. (Book value method is used. Assume that the entry to record amortization of the bond discount and interest payment has been made. (b) (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter Ofor the amounts. Round answers to decimal places, eg. 5,125.) ) (a) Interest Payable 71500 Interest Expense 144454 Discount on Bonds Payable 1454 Cash 214500 (b) Bonds Payable 1.608.750 Discount on Bonds Payable 147211 646000 Common Stock Paid-in Capital in Excess of Par - Common Stock