Convertible bonds and warrants

For each of the unrelated situations described below, prepare the entries required to record the transactions.

On August $1,2023,$ Alpha Corporation called its $10\%$ convertible bonds for conversion. The $$4,000,000$ par value bonds were converted into $160,000$ no par common shares. On August $1,$ there was $$350,000$ of unamortized premium applicable to the bonds. At the time of issuance, Contributed Surplus$-$Conversion Rights was credited for $$150,000,$ which represented the equity portion of the convertible bonds, and the market value of the common shares was $$20$ per share. The company records the conversion using the book value method. Ignore all interest payments.

Beta Inc. issues $10\%$ convertible bonds, par $$1,000,000,$ at $97.$ The investment banker indicates that if the bonds had not been convertible, they would have sold at $94.$ Use the residual method.

Gamma Ltd$.$ issues $$2,000,000$ par value, $8\%$ bonds. To help the sale, detachable stock warrants are issued at the rate of ten warrants for each $$1,000$ bond sold. It is estimated that the value of the bonds without the warrants is $$1,974,000$ and the value of the warrants is $$126,000.$ The bonds with the warrants sold at $101.$ Use the residual method.