conversion option slowed the holder of each $1,000 bond to convert it into six shares of the corporation's 530 par vaue common stock. The debentures were iscied tor s.3 inili on Af the time of issuance, the present value of the bond payments was 528.50mifi, and the coporation beireves the ditference between the prosent value and the amount paid is common stock was seling for 590 per share, holders of 40% of the convertble debentures exercised their conversion opocns. The corporation uses the siraight ine matiod fot amortining any bond dscothts or premiums. Required: 1. Prepare the journal enty to record the originat issuance of the convertible debentures. 2. Prepare the joumal entry to record the exprase of the conversion aptoon using the back value mechad. Prepare the joumal entry to record the original issuance of the convertible debentures on January 1,2018 . Prepare the journal entry to record the exercise of the conversion option, using the book value method on January 1,2020 . General Joumal instructions