On December 31, 2023, Brewed Awakening Ltd. issues 6 percent, 10-year convertible bonds with a maturity value of $6,000,000. The semi-annual interest dates are June 30 and December 31. The market interest rate is 5 percent.

Required:Journalize the following transactions:

1. Issuance of the bonds on December 31, 2023. Credit Convertible Bonds Payable.
2. Payment of interest on June 30, 2024.
3. Payment of interest on December 31, 2024.
4. Retirement of bonds with maturity value of $3,000,000 on July 2, 2025. Brewed Awakening pays the call price of 104.00.
5. Conversion by the bondholders on July 2, 2025, of bonds with maturity value of $2,000,000 into 40,000 of Brewed Awakening Ltd. common shares.