On April 1, 2017, Monty Company sold 28,800 of its 12% 15-year, $1,000 face value bonds at 97 Interest payment dates are April. 1 and Octobe 1 and the company Discount on Bonds Payable thod of bond discount amortization. On March 1, 2018, Monty took advantage of favorable prices of its stock to extinguish 4,200 of the bonds by issuing 138,600 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 $30 per share on March 1, 2018. Prepare the journal entries needed on the books of Monty Company to record the following. (Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answers to O decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually (a) April 1, 2017: issuance of the bonds. (b) October 1, 2017: payment of semiannual interest. (c) December 31, 2017: accrual of interest expense. (d) March 1, 2018: extinguishment of 4,200 bonds. (No reversing entries made.) No. Date Account Titles and Explanation Debit Credit (a) 4/1/17 Cash 27936000 Discount on Bonds Payable 864000 Bonds Payable 28800000 (b) 10/1/17 Interest Expense 1756800 Discount on Bonds Payable 28800 Cash 1728000