On January$1,2023,$ Rings$-$R$-$Us Inc. raised $$$$5\mathrm{.}3$ million by issuing $$$$4\mathrm{.}8$ million of $8\%,$ eight$-$year convertible bonds maturing on January$1,2031.$ Interest was paid$$ semi$-$annually on June $30$ and December $31.$ Each$$ $$1,000$ bond could be converted into $40$no$-$par value common shares. In$$ addition, each bond included $48$ detachable common stock warrants with an exercise price of $$$$30$ each. Immediately after$$ issuance, the$$ warrants, which expire on January$1,2031,$ traded at $$$$2$ each on the open market. Similar$$ non$-$convertible bonds issued without warrants were yielding $9\%$ at that time.

On July$1,2027,$ warrant holders exercised $70\%$ of the warrants. The shares of Rings$-$R$-$Us traded at $$$$48$ each on that day.

On July$1,2028,$ bondholders converted $60\%$ of the bonds to common shares. The interest payment had been made on June$30,2028,$ in the normal fashion. The shares of Rings$-$R$-$Us traded at $$$$50$ each on that day.

Rings$-$R$-$Us prepares its financial statements in accordance with IFRS.On January $1,2023,$ Rings$-$R$-$Us Inc. raised $$5\mathrm{.}3$ million by issuing $$4\mathrm{.}8$ million of $8\%,$ eight$-$year

convertible bonds maturing on January $1,2031.$ Interest was paid semi$-$annually on June $30$ and

December $31.$ Each $$1,000$ bond could be converted into $40$ no$-$par value common shares. In addition,

each bond included $48$ detachable common stock warrants with an exercise price of $$30$ each.

Immediately after issuance, the warrants, which expire on January $1,2031,$ traded at $$2$ each on the open

market. Similar non$-$convertible bonds issued without warrants were yielding $9\%$ at that time.

On July $1,2027,$ warrant holders exercised $70\%$ of the warrants. The shares of Rings$-$R$-$Us traded at $$48$

each on that day. On July $1,2028,$ bondholders converted $60\%$ of the bonds to common shares. The

interest payment had been made on June $30,2028,$ in the normal fashion. The shares of Rings$-$R$-$Us

traded at $$50$ each on that day. Rings$-$R$-$Us prepares its financial statements in accordance with IFRS.

a$.$ Prepare the journal entry to record the issuance of the convertible bonds on January $1,2023.$

Round all answers to the nearest whole dollar.

b$.$ Prepare the journal entry to record payment of interest and related amortization on June $30,$

c$.$ Prepare the journal entry to record exercise of the warrants on July $1,2027.$

d$.$ Prepare the journal entry to record payment of interest and related amortization on June $30,$

$2028.$

e$.$ Prepare the journal entry to record conversion of the bonds on July $1,2028.$

f$.$ Prepare the journal entry to record derecognition of the bonds on January $1,2031.$

i$.$ Go ahead and prepare the journal entry to record the retirement of the bonds.

ii$.$ Next, record the expiration of the remaining conversion rights as a transfer of contributed

surplus.

iii. Finally, record the transfer of contributed surplus for the remaining warrants that expired

unexercised.