On April 1, 2020, Cheyenne Corp. sold 11,900 of its $1,000 face value, 15-year, 12% bonds at 88. Interest payment dates are April 1 and October 1. The company uses the effective interest method. On March 1, 2021, Cheyenne extinguished 2,975 of the bonds by issuing 91,600 shares. At this time, the accrued interest was paid in cash to the bondholders whose bonds were being extinguished. In a separate transaction on March 1, 2021, 120,000 of the companys shares sold for $31 per share.

Prepare Cheyenne Corp.s journal entry to record the issuance of the bonds on April 1, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
4/1/20	cash
	bonds payable