On January $1,20$xo Pray Shah Limited issued $$15,000,000$ of $10-$year $10\mathrm{.}0\%$ debenture at $105.$ Investment bankers believe that the debentures would have sold at $102$ without the corversion privilege. Interest is to be paid semiannually on June $30$th and December $31.$ Each $$1,000$ debenture can be converted into ten of Pray Shah Limited's no$-$par common shares after December $31,201.$

On January $1,203$$$3,000,000$ of the debentures are converted into common shares, which were selling at $$88\mathrm{.}00.$ An additional $$6,000,000$ of the debentures are converted on March $31,20$X$3.$ The market price of the common shares is then $$96\mathrm{.}00.$ Accrued interest at March will be paid when the bond is converted. The bond premium is to be amortized on a straight$-$line basis. Pray Shah Limited Shows Both the Equity and Liability Components.

Required:

Prepare the journal entries on January $1,200.$

Prepare the journal entries on December $31,201.$

Prepare the journal entries on January $1,203,$ assuming the cost basis.

Prepare the journal entries on March $31,20$X$3,$ assuming the cost basis.

Prepare the journal entries on June $30,20$X$3.$

Please Use Format Below to Answer the Required Entries:

$\backslash$table$[[$Description$/$Account$,$Debit,Credit$],[,,],[,,]]$