Pedro,

This error most likely means that the build for this particular project has not been successful so the program to debug does not exist.
It is also pointing to the bin\\x86\\release folder which is the default location for a release configuration and not a debug build.

I would recommend that you choose a new location for your projects instead of the long path under the users\\pedro folder and do not use spaces in the project names.

Check the output window after doing a rebuild of the solution to see if there are any errors present.
If there are no errors and it still is not generating a PROGRAM1A.exe then perhaps the build action is turned off for the project. Right click on the solution name and select properties and then click on Configuration. Make sure that the Build column for your project has a check mark on it.

You might want to take a look at the following video that covers some of these topics:

Visual COBOL in a Nutshell: Visual Studio Projects and Solutions

Thanks.