4 Ela Question 3 (4 points) Pinnacle Inc., on January 1, 2020 issued a 5 year $2,000,000 convertible bond with an interest rate of 5.5%. The market rate of interest for debt of similar size, risk and term is 6%. Interest is paid annually. The obligation can be satisfied at maturity either by paying cash or by issuing shares valued at $9 per share at Pinnacle Inc.'s option. The bond was issued for $2,125,000. Round all answers to the nearest dollar Required: Provide the journal entry to record the issuance of the bonds. (4 marks) Paragraph V B I U