Computalog Inc. showed the following on its December 31, 2020, balance sheet Bonds payable, convertible Lesst Unamortized discount $4,050,000 14,580 $4,035,420 Required: 1. Assuming the bonds are convertible into 405,000 common shares journalize the conversion on January 1, 2021, when the marke value per common share was $10.25 View transaction list View journal entry worksheet No Credit 1 Date General Journal January 01, 2021 Bonds payable Discount on bonds payable Common shares Cash Debit 4,050,000 14,580 4,050,000 14 580 ere to search 2. How will the conversion of bonds into common shares affect the elements of the balance sheet (assets, liabilities, equity)? Affect on Balance sheet Amount Assets Total liabilities Equity