For each of the unrelated transactions described below, present the entry(ies) required to record each transaction.

1. G Corp. issued $20,000,000 par value 10% convertible bonds at 99. If the bonds had not been convertible, the companys investment banker estimates they would have been sold at 95.
2. Suppose Stern, Inc. called its convertible debt in 2020. Assume the following related to the transaction. The 11%, $10,000,000 par value bonds were converted into 1,000,000 shares of $1 par value common stock on July 1, 2020. On July 1, there was $55,000 of unamortized discount applicable to the bonds, and the company paid an additional $75,000 to the bondholders to induce conversion of all the bonds. The company records the conversion using the book value method.