On January 1, 2020. Slug Corporation issued $70 million of 10%, 10-year convertible bonds at 102. The bonds pay interest on June 30 and December 31. Each $1,000 bond is convertible into 40 shares of $1 par common stock. Fuzz Company purchased 30% of the issue as an investment. On July 1, 2024, Fuzz converted all of its bonds into common stock of Slug. The market price per shore for Sug was $42 at the time of the conversion. Both companies use the straight-line method for amortization Required: 1. Prepare journal entries for the issuance of the bonds on the issuer and the investor books 2. Prepare the journal entries for the conversion on the books of the issuer and the investor Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare journal entries for the issuance of the bonds on the issuer and the investor books. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) View transaction list Journal entry worksheet