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On January 1 , 2 0 xo Pray Shah Limited issued $ 1 5 , 0 0 0 , 0 0 0 of 1 0

On January 1,20xo Pray Shah Limited issued $15,000,000 of 10-year 10.0% 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 30th 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 $88.00. An additional $6,000,000 of the debentures are converted on March 31,20X3. The market price of the common shares is then $96.00. 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 31,20X3, assuming the cost basis.
Prepare the journal entries on June 30,20X3.
Please Use Format Below to Answer the Required Entries:
\table[[Description/Account,Debit,Credit],[,,],[,,]]
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