What is bramble corp journal entry to record the payment

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On April 1, 2020, Bramble Corp. sold 12,000 of its $900 face value, 15-year, 11% bonds at 98. Interest payment dates are April 1 and October 1. The company follows ASPE and uses the straight-line method of bond discount amortization. On March 1, 2021, Bramble extinguished 3,000 of the bonds by issuing 90,000 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 $32 per share.

Problem 1: What is Bramble Corp.'s journal entry to record the payment of the semi-annual interest on October 1, 2020.

Reference no: EM132808322

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