On January 1, 2017, Flint Corporation issued $4,060,000of 10-year,9% convertible debentures at104. Interest is to be paid semiannually on June 30 and December 31. Each $1,000debenture can be converted into8shares of Flint Corporation $101par value common stock after December 31, 2018.

On January 1, 2019, $406,000of debentures are converted into common stock, which is then selling at $111. An additional $406,000of debentures are converted on March 31, 2019. The market price of the common stock is then $117. Accrued interest at March 31 will be paid on the next interest date.

Bond premium is amortized on a straight-line basis.

Make the necessary journal entries for:

(a)December 31, 2018.(c)March 31, 2019.(b)January 1, 2019.(d)June 30, 2019.

Record the conversions using the book value method.