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Computalog Inc showed the following on its December 31,2023 , balance sheet: Required: 1. Assuming the bonds are convertible into 417,000 common shares. Journalize the

Computalog Inc showed the following on its December 31,2023 , balance sheet: Required: 1. Assuming the bonds are convertible into 417,000 common shares. Journalize the conversion on January 1,2024 , when the market value per common share was $10.25. 2. How will the conversion of bonds into common shares affect the elements of the balance sheet (assets, liabilities, equity)

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