GK Chesterton Co. issued $5,000,000 of 7.5%, 5-year convertible bonds on December 1, 2019 for $5,025,480 plus accrued interest of $62,500 (credited to interest payable). The bonds were dated April 1, 2019 with interest payable on April 1 and October 1. Bond premium is amortized each interest period on a straight-line basis. Each $1,000 bond is convertible into 14 shares of $15 par value common stock. On October 1, 2020, bonds with a face value of $2,500,000 were converted into common stock. stock. Instructions: (a) Prepare the entry to record the interest payment on April 1, 2020. Assume that interest payable was credited when the bonds were issued (round to nearest dollar). Hint: You will need to amortize the premium over 52 months since the bonds were issued after the date of April 1, 2019. (b) Prepare the entry to record the entries on October 1, 2020.

Reliability and validity reliability and validity are two important considerations that must be made with any type of data collection. reliability refers to the ability to consistently produce a given result. in the context of psychological research, this would mean that any instruments or tools used to collect data do so in consistent, reproducible ways. unfortunately, being consistent in measurement does not necessarily mean that you have measured something correctly. to illustrate this concept, consider a kitchen scale that would be used to measure the weight of cereal that you eat in the morning. if the scale is not properly calibrated, it may consistently under- or overestimate the amount of cereal that’s being measured. while the scale is highly reliable in producing consistent results (e.g., the same amount of cereal poured onto the scale produces the same reading each time), those results are incorrect. this is where validity comes into play. validity refers to the extent to which a given instrument or tool accurately measures what it’s supposed to measure. while any valid measure is by necessity reliable, the reverse is not necessarily true. researchers strive to use instruments that are both highly reliable and valid.