Liberty Inc. prepares its financial statements in accordance with IFRS. On January$1,2023,$ the company issued $ $10\mathrm{.}0$million$,8\%,$ nine$-$year convertible bonds that pay interest$$ semi$-$annually on June $30$ and December $31.$ At the option of the$$ bondholder, and at any time before$$ maturity, each $ $1$ comma $000$ bond was convertible into $25$ of Liberty $$Inc$.\text{'}$s common shares. Liberty raised $ $10\mathrm{.}2$ million from the sale of the bonds. At the time of the$$ sale, the market rate of interest for similar bonds without the conversion feature was $9\%.$

On January$1,2025,$ $ $4\mathrm{.}0$ million of the bonds were converted. The market price of Liberty $$Inc$.\text{'}$s common shares at the time of conversion was $ $45$ per share.Liberty Inc. prepares its financial statements in accordance with IFRS. On January $1,2023,$ the company issued

$$10\mathrm{.}0$ million, $8\%,$ nine$-$year convertible bonds that pay interest semi$-$annually on June $30$ and December $31.$ At the

option of the bondholder, and at any time before maturity, each $$1,000$ bond was convertible into $25$ of Liberty Inc.$\text{'}$s

common shares. Liberty raised $$10\mathrm{.}2$ million from the sale of the bonds. At the time of the sale, the market rate of

interest for similar bonds without the conversion feature was $9\%.$

On January $1,2025,$ $$4\mathrm{.}0$ million of the bonds were converted. The market price of Liberty Inc.$\text{'}$s common shares at

the time of conversion was $$45$ per share.

Required

Requirement a$.$ Prepare the journal entry to record the issuance of convertible bonds. $($Prepare all entries on

not in millions. Rou