On January 1, 2020, Angela Company issued a convertible bond with a par value of $100,000 in the market for $120,000. The bonds are convertible into 12,000 ordinary shares of $1 per share par value. The bond has a 5-year life and has a stated interest rate of 10% payable annually. The market interest rate for a similar non-convertible bond at January 1, 2020, is 8%. The ability component of the band is computed to be 107,986. The following bond amortization schedule is provided for this bond. Effective interest method 10% Bond Discounted at 8% Date Cash Paid Interest Expense Premium Amortized Carrying Amount of Bonds Jan 1, 2020 $107.986 Dec 31, 2020 $10,000 $8,639 $1,361 106,625 10,000 Dec 31, 2021 Dec 31, 2022 8,530 1,470 105,155 10,000 1,588 103,567 8,412 8,285 10,000 1,715 Dec 31, 2023 Dec 31, 2024 REQUIRED: 10,000 8,148 101,852 100,000 1,852 1) Prepare the journal entry to record the issuance of the convertible bond on January 1, 2020. (3 Marks) 2) Assume that the bonds were converted on December 31, 2022. The fair value of the liability component of the bond is determined to be $108,000 on December 31, 2022. Prepare the journal entry to record the conversion on December 31, 2022 (Assume that the accrual of interest related to 2022 has been recorded). (5 Marks) 3) Assume the bonds matured on Dec 31, 2024 and Angela repurchased the bonds. Prepare the entry to record this transaction (2 Marks)