On January 1, 2023, BDM Corporation issued a series of 100 convertible bonds, maturing in 5 years. The face amount of each bond was $500. BDM received $51.400 for the bond issue. The bonds paid interest every December 31 at 8%; the market interest rate for bonds with a comparable level of risk was 8.50%. The bonds were convertible to common shares at a rate of 12 common shares per bond. BDM amortized bond premiums and discounts using the effective interest method, and the company's year-end was December 31. BDM follows ASPE. On January 1, 2024, 20 of the bonds were converted into common shares. On June 30, 2024, another 20 bonds were converted into common shares. The bondholders chose to forfeit the accrued interest on these bonds. On January 1, 2025, when the fair value of the bonds was $30,750 due to a decrease in market interest rates, a conversion inducement of $30/bond was offered to the remaining bondholders to convert their bonds to common shares. All of the remaining 60 bonds were converted into common shares at this time. a. Prepare the journal entry at January 1, 2023. b. Prepare the journal entry at December 31, 2023. C Prepare the journal entry at January 1, 2024. d. e f Prepare the journal entry at June 30, 2024. Prepare the journal entry at December 31, 2024.1 Prepare the journal entry at January 1, 2025. Date Account Titles and Explanation Debit 1.2023 Cash Bonds Payable Contributed Surplus-Conversion Rights 31.2023 Interest Expense Bonds Payable Cash 1.2024 Bonds Payable Contributed Surplus-Conversion Rights Common Shares 1024 Bonds Payable Contributed 51400 4187 187 9815 73 9815 Credit Que AccoL Quel 49260 Accou 2140 Ques Accoun Viewi Accoun Quest 4000 Multiple 9888 Contributed Surplus-Conversion Rights Interest Expense Common Shares r 31, 2024 Interest Expense 1.2025 Bonds Payable Cash Bonds Payable 73 523 2512 112 29439 Loss on Redemption of Bonds 1311 Contributed Surplus-Conversion Rights 219 Retained Earnings 309 Common Shares Cash Qu Acc Qu 10411 Acce Qu Acco Vie- Acco- 2400 Que Multip 29658 1800