Computalog Inc. showed the following on its December $31,2023,$ balance sheet:

$\backslash$table$[[$Bonds payable, convertible $$4,020,000,],[$Less: Unamortized discount,$14,472]]$

Required:

Assuming the bonds are convertible into $402,000$ common shares, journalize the conversion on January $1,2024,$ when the market value per common share was $$10\mathrm{.}25.$