Bradley$-$Link$$s December $31,2024,$ balance sheet included the following items:

Long$-$Term Liabilities $($$ in millions$)$

$11\mathrm{.}0\%$ convertible bonds, callable at $102$ beginning in $2025,$ due $2028($net of unamortized discount of $$5)[$note $8]$ $ $245$

$11\mathrm{.}8\%$ registered bonds callable at $105$ beginning in $2034,$ due $2038($net of unamortized discount of $$1)[$note $8]68$

Shareholders$$ Equity

Equity$$stock warrants $6$

Note $8$: Bonds $($in part$)$

The $11\mathrm{.}0\%$ bonds were issued in $2011$ at $96\mathrm{.}0$ 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 $11\mathrm{.}8\%$ bonds were issued in $2015$ 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 $2025.$

On January $3,2025,$ when Bradley$-$Link$$s common stock had a market price of $$37$ per share, Bradley$-$Link called the convertible bonds to force conversion. Ninety percent 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 $2025,40\%$ of the warrants were exercised.

Required:

Prepare the journal entries that were recorded when each of the two bond issues was originally sold in $2011$ and $2015.$

Prepare the journal entry to record $($book value method$)$ the conversion of $90\%$ of the convertible bonds in January $2025$ and the retirement of the remainder.

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 $2025.$

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 $2025.$

Prepare the journal entry to record the exercise of the warrants in December $2025.$

Bradley$-$Link's December $31,2024,$ balance sheet included the following items:

Long$-$Term Liabilities

$11\mathrm{.}0\%$ convertible bonds, callable at $102$ beginning in $2025,$ due $2028$

$($net of unamortized discount of $$5)[$note $8]$

$($$ in millions$)$

$($net of unamortized discount of $$5)[$note $8]$ $ $245$

$11\mathrm{.}8\%$ registered bonds callable at $105$ beginning in $2034,$ due $2038$

$($net of unamortized discount of $$1)[$note $8]$

$68$

Shareholders' Equity

Equity$-$stock warrants

Note $8$: Bonds $($in part$)$

The $11\mathrm{.}0\%$ bonds were issued in $2011$ at $96\mathrm{.}0$ 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 $11\mathrm{.}8\%$ bonds were issued in $2015$ 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 $2025.$

On January $3,2025,$ when Bradley$-$Link's common stock had a market price of $$37$ per share, Bradley$-$Link called the

convertible bonds to force conversion. Ninety percent 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 $2025,40\%$ of the warrants were

exercised.

Required:

Prepare the journal entries that were recorded when each of the two bond issues was originally sold in $2011$ and

Prepare the journal entry to record $($book value method$)$ the conversion of $90\%$ of the convertible bonds in

January $2025$ and the retirement of the remainder.

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 $2025.$

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 $2025.$

Prepare the journal entry to record the exercise of the warrants in December $2025.$