On April 1, 2020, Grouper Corp. sold 12,700 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, Grouper extinguished 3,175 of the bonds by issuing 90,200 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 company's shares sold for $33 per share. X Your answer is incorrect. Prepare Grouper 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 O for the amounts.) Date Account Titles and Explanation Debit Credit 4/1/20 e Textbook and Media List of Accounts X Your answer is incorrect. Provide an effective interest table for the bonds for two interest payment periods. (Round yield values to 4 decimal places, e.g. 52.7521 and final answers to 2 decimal places, e.g. 52.75.) Schedule of Bond Discount Amortization Effective Interest Method Discount Amortized Date Cash Paid Interest Expense Carrying A $ April 1'20 Oct. 1'20 April 1'21 Prepare Grouper Corps journal entry to record the accrual of the interest expense on December 31, 2020. (Round answers to 2 decimal places, e.g. 52.75. 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 for the amounts.) Date Account Titles and Explanation Debit Credit 12/31/20 Interest Expense Bonds Payable Interest Payable e Textbook and Media List of Accounts Your answer is partially correct. Prepare Grouper Corp's journal entries to record the extinguishment of 3,175 bonds by the issuance of common shares (no reversing entries are made) on March 1, 2021. (Round answers to 2 decimal places, e.g. 52.75. 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.) Debit Credit Date Account Titles and Explanation 3/1/21 Interest Expense Interest Payable Bonds Payable Cash (To record payment of interest to bondholders) 3/1/21 Bonds Payable Loss on Redemption of Bonds Common Shares (To record extinguishment of the bonds)