GP LLC issued 10-year 8% convertible coupon bond (CCB) at par worth 200 million USD. The yield on equivalent nonconvertible GP LLC bonds is 10%. The terms of the convertible bond is that the holder of the bond, on the redemption date, has the option to convert the bond to equity shares at the rate of 100 shares with a nominal value of 20 USD per 2,000 USD debt rather than being repaid in cash. GP LLC accounted for the financial liability arising using amortized cost. The holder of the bond converted the liability into stocks at maturity.

Required:

Show relevant calculations/journal entries (initial recognition, subsequent measurement and conversion).