On January 1, 2020, Shamrock Corporation issued $4,160,000 of 10-year, 9% convertible debentures at 102. Interest is to be paid semiannually on June 30 and December 31. Each $1,000 debenture can be converted into 8 shares of Shamrock Corporation $100 par value common stock after December 31, 2021. On January 1, 2022, $416,000 of debentures are converted into common stock, which is then selling at $109. An additional $416,000 of debentures are converted on March 31, 2022. The market price of the common stock is then $115. 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, 2021.		(c)		March 31, 2022.
(b)		January 1, 2022.		(d)		June 30, 2022.

Record the conversions using the book value method.

On January 1, 2020, Shamrock Corporation issued $4,160,000 of 10-year, 9% convertible debentures at 102. Interest is to be paid semiannually on June 30 and December 31. Each $1,000 debenture can be converted into 8 shares of Shamrock Corporation $100 par value common stock after December 31, 2021. On January 1, 2022, $416,000 of debentures are converted into common stock, which is then selling at $109. An additional $416,000 of debentures are converted on March 31, 2022. The market price of the common stock is then $115. 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, 2021. (c) March 31, 2022. (b) January 1, 2022. (d) June 30, 2022. Record the conversions using the book value method. (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 o for the amounts. Round answers to o decimal places, e.g. 5,275.) No. Date Account Titles and Explanation Debit Credit (a) Dec. 31, 2021 TInterest Expense 183040 TPremium on Bonds Payable 4160 Cash 187200 (b) Jan. 1, 2022 Bonds Payable 416000 TPremium on Bonds Payable 9984 I Common Stock 332800 T Paid-in Capital in Exces 93184 (c) Mar. 31, 2022 Interest Expense 8008 TPremium on Bonds Payable 312 8320 T Interest Payable (To record interest expense) Mar. 31, 2022 TBonds Payable 1 416000 TPremium on Bonds Payable 9672 T Common Stock 332800 Paid-in Capital in Exces 92872 (To record the conversion) (d) Jun. 30, 2022 Tinterest Expense TPremium on Bonds Payable Interest Payable 4160 > Tcash Cash