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

1. On August 1, 2013, Ryan Corporation called its 10% convertible bonds for conversion. The $6,000,000 par bonds were converted into 240,000 shares of $20 par common stock. On August 1, there was $525,000 of unamortized premium applicable to the bonds. The fair market value of the common stock was $20 per share. Ignore all interest payments.

2. Gomez Company issues $3,000,000 of bonds with a coupon rate of 8%. 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 $2,961,000 and the value of the warrants is $189,000. The bonds with the warrants sold at 101.