Case A On 1 January 20X6, Wilson Products Ltd. issued a bond when market interest rates were 8%. - Bonds payable, $12,000,000, 6%, due in 20 years' time. The bonds pay interest semi-annually each 30 June and 31 December. The bonds were issued at 105. The bonds are mandatorily convertible into common shares at the xed rate of 40 shares for each $200 bond at maturity. The company may, at its discretion, repay the bond for cash in lieu of shares. Required: Prepare the journal entry at 1 January 20X6, to record issuance of the bond. Also calculate interest expense for the year ended 31 December 20X6