On April 1, 2020, Flounder Company sold 22,500 of its 11%, 15-year, $1,000 face value bonds at 97. Interest payment dates are April 1 and October 1, and the company uses the straight-line method of bond discount amortization. On March 1, 2021, Flounder took advantage of favorable prices of its stock to extinguish 5,400 of the bonds by issuing 178,200 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 $32 per share on March 1, 2021. Prepare the journal entries needed on the books of Flounder 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) (b) (c) December 31, 2020: accrual of interest expense. (d) March 1, 2021: extinguishment of 5,400 bonds. (No reversing entries made.) No. (a) April 1, 2020: issuance of the bonds. October 1, 2020: payment of semiannual interest. (b) Date Account Titles and Explanation 4/1/20 10/1/20 (c) 12/31/20 (d) 3/1/21 cash Discount on Bonds Payable Bonds Payable Interest Expense Discount on Bonds Payable Cash Interest Expense Discount on Bonds Payable Interest Payable Interest Expense Debit 21825000 675000 1260000 630000 Credit 22500000 22500 1237500 11250 618750