For each of the unrelated transactions described below, present the entry (ies) required to record each transaction 1 Grand Corp. issued convertible bonds. Total par value of bonds issued Issue price at (% of par value) $ 20,000,000 99 Stated rate of interest 10% Estimate by investment banker of the price at which the bonds could have been sold if they had not been convertible: (% of par value) 95 Debit Credit Hoosier Company issued bonds. One detachable stock warrant was issued with each bond. 2. $ Total Par value of bonds 20,000,000 Issue price at (% of par value) 98 Stated rate of interest 10% $ Par value of each bond 100 Selling price of each warrant at time of issuance $ 4 Calculation of value of bonds: Value of bonds warrants Value of warrants Value of bonds Debit Credit 3 Suppose Sepracor, Inc. called its convertible debt in 2017. The company records the conversion using the book value method. Assume the following related to the transaction $ 10,000,000 Total par value of bonds on July 1, 2017 Conversion of the above bonds on July 1, 2017 into: Shares of $1 par value common stock 1,000,000 $ 55,000 Balance of unamortized discount on July 1 applicble to the bonds Additional payment to induce conversion of bonds Make one entry to record the entire transaction. $ 75,000 Debit Credit Select from the following account names: Bonds Payable Cash Common Stock Debt Conversion Expense Discount on Bonds Payable Discount on Stock Warrants Paid-in Capital - Stock Warrants Paid-in Capital in Excess of Par Premium on Bonds Payable Warrant Conversion Expense Warrants Receivable