On April $1,2025,$ Bridgeport Company sold $22,500$ of its $11\%,15-$year, $$1,000$ face value bonds at $97.$ Interest payment dates are April $1$ and October $1,$ and the company uses the straight$-$line method of bond discount amortization. On March $1,2026,$ Bridgeport took advantage of favorable prices of its stock to extinguish $5,400$ of the bonds by issuing $178,200$ shares of its $$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 $1,2026.$

Prepare the journal entries needed on the books of Bridgeport Company to record the following. $($Do not round intermediate calculations. 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 the amount is entered. Do not indent manually. List all debit entries before credit entries.$)$

$($a$)$ April $1,2025$: issuance of the bonds.

$($b$)$ October $1,2025$: payment of semiannual interest.

$($c$)$ December $31,2025$: accrual of interest expense.

$($d$)$ March $1,2026$: extinguishment of $5,400$ bonds. $($No reversing entries made.$)$

Date

Account Titles and Explanation

Debit

Credit

Cash $$

$$

Discount on Bonds Payable $$

Plus Website

Chapter $13$ Homework

Question $6$ of $7-$ Chapter $13$ Home

Question $6$ of $7$

$\frac{1\mathrm{.}11}{1\mathrm{.}3}$

Interest Payable

Interest Payable

$$

$$

$($To record interest and discount on bonds retired$)$

Bonds Payable $$

Loss on Redemption of Bonds

Discount on Bonds Payable

Common Stock

Paid$-$in Capital in Excess of Par $-$ Common Stock

$($To record extinguishment of the bonds$)$