(Issuance and Conversion of Bonds) For each of the unrelated transactions described below, present the entry(ies) required to record each transaction. 1. Ehrlich Corp. issued $50,000,000 par value 8% convertible bonds at 102. If the bonds had not been convertible, the company's investment banker estimates they would have been sold at par. 2. On October 31, 2021, Ehrlich Corp. called its 10% convertible debenture bonds for conversion. The $60,000,000 par value bonds were converted into 600,000 shares of $1 par value common stock. On October 31, there was $155,000 of unamortized premium applicable to the bonds, and the company paid an additional $355,000 to the bondholders to induce conversion of all the bonds. The company records the conversion using the book value method. 3. ABC Inc. issued $1,500,000 of 10%, 10-year convertible bonds on January 1, 2020, at 98. The interest is payable annually. Bond discount is amortized annually on a straight-line basis. On January 1, 2021, these bonds were converted into 30,000 shares of $20 par value common stock. Instructions a. Prepare the entry to record the issuance of the bonds on 1/1/20. b. Prepare the entry for the accrual of interest and discount amortization on 12/31/20. c. Prepare the entry to record the conversion on January 1, 2021. (Book value method is used.)