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Bradley-Link's December 31, 2021, balance sheet included the following items: 15 in millions) $245 Long-Term Liabilities 11.04 convertible bonds, Callable at 102 beginning in 2022, due 2025 (net of namortized discount of $5) note 8 11. registered bonds callable at 105 beginning in 2031, due 2035 (net o unamortized discount of $1) note 3) Shareholders' Equity Equity-stock warrants 68 6 Note 8: Bonds (in part) The 11,0% bonds were issued in 2008 at 96.0 to yield 10%, Interest is paid semiannually on June 30 and December 31. Each $1,000 bond is convertible into 50 shares of the Company's no par common stock The 11.8% bonds were issued in 2012 at 103 to yield 10%. Interest is paid semiannually on June 30 and December 31. Each $1000 bond was issued with 50 detachable stock warrants, each of which entities the holder to purchase one share of the Company's no par common stock for $30, beginning 2022 On January 3, 2022, when Bradley Link's common stock had a market price of $37 per share, Bradley-Link called the convertible bonds to force conversion 90% were converted the remainder were acquired at the call price. When the common stock price reached an all-time high of $42 in December of 2022, 40% of the warrants were exercised. Required: 1. Prepare the journal entries that were recorded when each of the two bond issues was originally sold in 2008 and 2012. 2. Prepare the journal entry to record (book value method) the conversion of 90% of the convertible bonds in January 2022 and the retirement of the remainder. 3. Assume Bradley-Link induced conversion by offering $170 cash for each bond converted. Prepare the journal entry to record (book value method) the conversion of 90% of the convertible bonds in January 2022. 4. Assume Bradley-Link induced conversion by modifying the conversion ratio to exchange 55 shares for each bond rather than the 50 shares provided in the contract. Prepare the journal entry to record (book value method) the conversion of 90% of the convertible bonds in January 2022. 5. Prepare the journal entry to record the exercise of the warrants in December 2022. value method, the conversion of 90% of the convertible bonds in January 2022 4. Assume Bradley-Link induced conversion by modifying the conversion ratio to exchange 55 shares for each bond rather than the 50 shares provided in the contract. Prepare the journal entry to record (book value method) the conversion of 90% of the convertible bonds in January 2022 5. Prepare the journal entry to record the exercise of the warrants in December 2022 Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Prepare the journal entries that were recorded when cach of the two bond issues was originally sold in 2008 and 2012. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answer in millions (I... 10,000,000 should be entered as 10), rounded to nearest whole number). No Event General Journal Debit Credit 1 Cash 240 Discount on bonds payable 10 Convertible bonds payable 250 1 0 62 2 2 4 Cash Discount on bonds payable Convertible bonds payable Equity - stock warrants 60 6 Required Required 2 >