$6,000,000 4% Bonds issued @104 on 1/1/17.

Interest is paid every six months 6/30 & 12/31.

Premium is amortized on a straight-line basis.

After 2 years from the date of issue, the bonds can be converted into Common Stock as follows: For every $1,000 in bonds, the bond holder can convert the bond into 8 shares of common stock.

On 1/1/19 $600,000 of bonds are converted: $600,000/$1,000 = 600 x 8 = 4,800 shares.

On 3/31/19 an additional $600,000 of bonds are converted: $600,000/$1,000 = 600 x 8 = 4,800 shares.

Using the above information, prepare the required journal entries on the following dates:

1. March 31, 2019

2. June 30, 2019