14 Bradley-Link's December 31, 2021, balance sheet included the following items: 718 points (s in sillions) $245 Long-Term Liabilities 11.04 convertible bonds, callable at 182 beginning in 2022, due 2025 (net of namortized discount of $5) Inote 8) 11.8% registered bonds callable at 105 beginning in 2831, due 2035 (net of unamortized discount of $1) Inote 81 Shareholders' Equity Equity-stock warrants 68 6 eBook References Note 8: Bonds (in part) The 11.0% bonds were issued in 2008 at 96.0 to yield 10%, Interest is paid semiannually on June 30 and December 31. Each $1,000 bond is convertible into 50 shares of the Company's no par common stock. The 11.8% bonds were issued in 2012 at 103 to yield 10% Interest is paid semiannually on June 30 and December 31. Each $1,000 bond was issued with 50 detachable stock warrants, each of which entitles the holder to purchase one share of the Company's no par common stock for $30, beginning 2022 On January 3, 2022, when Bradley Unk's common stock had a market price of $37 per share, Bradley-Link called the convertible bonds to force conversion, 90% were converted; the remainder were acquired at the call price. When the common stock price reached an all-time high of $42 in December of 2022, 40% of the warrants were exercised. Required: 1. Prepare the journal entries that were recorded when each of the two bond issues was originally sold in 2008 and 2012 2. Prepare the journal entry to record (book value method) the conversion of 90% of the convertible bonds in January 2022 and the retirement of the remainder 3. Assume Bradley Link induced conversion by offering $170 cash for each bond converted. Prepare the journal entry to record (book value method) the conversion of 90% of the convertible bonds in January 2022 4. Assume Bradley Link induced conversion by modifying the conversion ratio to exchange 55 shares for each bond rather than the 50 shares provided in the contract. Prepare the journal entry to record (book value method) the conversion of 90% of the convertible bonds in January 2022 5. Prepare the journal entry to record the exercise of the warrants in December 2022 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Required 5 Required 4 14 LIVE Uy 4UAL. 5. Prepare the journal entry to record the exercise of the warrants in December 2022 Complete this question by entering your answers in the tabs below. 7.18 points Required: Required 2 Required 3 Required 4 Required 5 Prepare the journal entries that were recorded when each of the two bond issues was originally sold in 2008 and 2012. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answer in millions le, 10,000,000 should be entered as 10), rounded to nearest whole number). References View transaction list Journal entry worksheet Record the bond issue that was originally sold in 2008 Enter te berec Debit Credit Event 1 General Journal Cash Discount on bonds payable Convertible bonds payable View general Journal Clear entry Record entry Required 1 Required 2 Required 3 Required 4 Required 5 Book Prepare the journal entries that were recorded when each of the two bond issues was originally sold in 2008 and 2012. (Ir no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answer in millions de 10,000,000 should be entered as 10), rounded to nearest whole number). ferences View transaction list Journal entry worksheet > 2 Record the bond issue that was originally sold in 2012 Note: Enter debits before credits Debit Credit Event 2 General Journal Cash (Discount on bonds payable Bonds payable Equity - stock warrants View general journal Clear entry Record entry 14 5. Prepare the journai ency to record une exercise or no warrants in December Lule Complete this question by entering your answers in the tabs below. 758 points Required 1 Required 2 Required Required Required Prepare the journal entry to record (book value method) the conversion of 90% of the convertible bonds in January 2022 and the retirement of the remainder. (If no entry is required for a transaction/event, select "No journal entry required in the first accounted Enter your answers in milions rounded to 1 decimal place le, 5,500,000 should be entered as 5.5) book View transaction lit Reference Journal entry worksheet Record the conversion of 90% of the convertible bonds No debere credits Debit Cred Event 1 General Journal Convertible bonds payable Discount on bonde payable Commons View general al Clear entry Record entry Required 1 Required 2 Required 3 Required 4 Required 5 Prepare the journal entry to record (book value method) the conversion of 90% of the convertible bonds in January 2022 and the retirement of the remainder (if no entry is required for a transaction/event, select "No journal entry required in the first account field Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5)) Book @ View transaction list erences Journal entry worksheet Record the retirement of the remainder bonds. Note Enter debit before credits Debit Credit Event 2 General Journal Convertible bonds payable Loss on early extinguishment Discount on bonds payable Cash View general Journal Clear entry code 14 Complete this question by entering your answers in the tabs below. 718 points Required 1 Required 2 Required 3 Required 4 Required 5 Assume Bradley-Link induced conversion by offering $170 cash for each bond converted. Prepare the journal entry to record (book value method) the conversion of 90% of the convertible bonds in January 2022. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in millions rounded to 1 decimal place (.e. 5.500,000 should be entered as 5.5)) eBook References View transaction list Journal entry worksheet Record the conversion of 90% of the convertible bonds Note: Enter debts before credits Debit Credi Event 1 General Journal Convertible bonds payable Conversion expenso Discount on bonds payable Common stock Cash View general Journal Clear entry