On January 1, 2019 Steel Corp. issues $750,000 of 5% convertible bonds that mature in ten years and pay interest semiannually on June 30 and December 31 . The bonds were issued at 104.5 and do not contain a cash settlement clause. Each $1,000 bond is convertible into 25 shares of the company's $1 par value common stock. The current market price of Steel Corp.'s stock is $35 per share. Steel Corp. uses the straight-line method to amortize premiums and discounts. On July 1st2025 holders of the bonds converted their holdings into common stock. The common stock was trading for $52 per share on that date. Valentino's uses the book value method to account for bond conversions. 1. Prepare the journal entry to record the bond issuance on January 1, 2019. 2. Prepare the necessary journal entries on June 30 and December 31, 2019. 3. Prepare the necessary journal entry on July 1, 2025