On September 30, 2020, Sunland Inc. issued $3,750,000 of 10-year, 8% convertible bonds for $4,306,000. The bonds pay interest on March 31 and September 30 and mature on September 30, 2030. Each $1,000 bond can be converted into 80 no par value common shares. In addition, each bond included 20 detachable warrants. Each warrant can be used to purchase one common share at an exercise price of $15. Immediately after the bond issuance, the warrants traded at $2.90 each. Without the warrants and the conversion rights, the bonds would have been expected to sell for $3,947,000. On March 23, 2023, half of the warrants were exercised. The common shares of Sunland Inc. were trading at $20 each on this day. Immediately after the payment of interest on the bonds, on September 30, 2025, all bonds outstanding were converted into common shares. Assume the entity follows IFRS. Your answer is correct. Prepare the journal entry to record the issuance of the bonds on September 30, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation September 30, 2020 Ceh Debit 4306000 Credit 6.86/15 E Using (1) a financial calculator or (2) Excel functions, calculate the effective rate (yield rate) for the bonds. (Round answer to 4 decimal places, eg. 5.2500%) Semi-annual effective rate 4.1733 % eTextbook and Media List of Accounts Your answer is partially correct. Prepare a bond amortization schedule from September 30, 2020, to September 30, 2025, using the effective interest rate. (Round answers to O decimal places, eg 5,275.) Schedule of Bond Premium Amortization Effective Interest Method Prepare a bond amortization schedule from September 30, 2020, to September 30, 2025, using the effective interest rate pound answers to O decimal places, eg. 5.275) Date Cash Paid Schedule of Bond Premium Amortization Effective Interest Method Effective Interest Sept 30, 2020 Mar. 31, 2021 $ 150000 5 164318 sept. 30, 20211 150000 Mar 31 2022 150000 Sept. 30, 2022 150000 Mar 31 2023 150000 lept. 30, 2023 150000 Mar. 31, 2024 150000 A 10 Premium Amortized 1431 UUUUU ING 1732 2002-200 Mar. 31, 2023 150000 jept. 30, 2023 150000 Mar. 31, 2024 150000 jept. 30, 2024 150000 Mar. 31, 2025 150000 Sept. 30, 2025 150000 eTextbook and Media List of Accounts Prepare the December 31, 2020 year-end adjusting journal entries and the payment of interest on March 31, 2021. Assume that Sunland Inc. does not use reversing entries. For amortization of premium, pro-rate using number of months. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to O decimal places, eg. 5,275) Date Account Titles and Explanation December Interest Expense 31, 2020 Bonds Payable Interest Payable March 31, Interest Expense 2021 Interest Payable Bonds Payable Cush Debit Credit