On January 1, 2020, Lin 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 liability component of the bond is computed to be 107,986. The following bond amortization schedule is provided for this bond. EFFECTIVE-INTEREST METHOD 10% Bond Discounted at 8% Cash Interest Expense Carrying Amount of Bonds Premium Amortized Paid Date 1/1/20 107.986 12/31/20 10,000 8.639 1.361 106,625 12/31/21 10,000 8,530 1.470 105,155 12/31/22 10,000 8.412 1.588 103,567 12/31/23 10,000 8,285 1.715 101,852 12/31/24 10,000 8,148 1.852 100,000 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. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Share Premium-Conversion Equity Bonds Payable Loss on Repurchase Cash