Pina Corporation issued $4,400,$ five year, $4\%$ bonds at $104$ on January $1,2023.$ Interest is paid annually. Each $$1,000$ bond carried one

detachable warrant allowing the holder to purchase $100$ common shares in Pina at $$10$ per share, the price at which Pina shares were

trading on the day of the sale of the bonds. Similar straight bonds trading on the open market paid $5\%.$ On June $30,2023,880$ of the

bond holders exercised the options to buy the shares.

Prepare the journal entries to record these events. $($Round present value factor calculations to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and the final

answer to $0$ decimal places e$.$g$.58,971.$ Credit account titles are automatically indented when the amount is entered. Do not indent manually.

Record journal entries in the order presented in the problem. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the

amounts. List all debit entries before credit entries.$)$

Date

Account Titles and Explanation

Debit

Credit

Credit