On January 1, 2023, DMW Corporation issued a series of 100 convertible bonds, maturing in 5 years. The face amount of each bond was $500. DMW received $51,500 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. DMW amortized bond premiums and discounts using the effective interest method, and the company's year-end was December

31. DMW 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 $30,810 due to a decrease in market interest rates, a conversion inducement of $27/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.

Prepare the journal entry at January 1, 2023.

Prepare the journal entry at December 31, 2023.

Prepare the journal entry at January 1, 2024.

Prepare the journal entry at June 30, 2024.

Prepare the journal entry at December 31, 2024.

Prepare the journal entry at January 1, 2025.

\begin{tabular}{|c|c|c|c|c|} \hline Date & & Account Titles and Explanation & Debit & Credit \\ \hline \multirow[t]{3}{*}{ ary 1,2023} & v & Cash & 51500 & \\ \hline & & Bonds Payable & & 50000 \\ \hline & & Contributed Surplus - Conversion Rights & & 1500 \\ \hline \multirow[t]{3}{*}{ iber 31,2023} & v & Interest Expense & 3400 & \\ \hline & & Bonds Payable & 600 & 187 \\ \hline & & Cash & & 4000 \\ \hline \multirow[t]{3}{*}{y1.2024} & v & Bonds Payable & 9815 & \\ \hline & & Contributed Surplus - Conversion Rights & 73 & \\ \hline & & Common Shares & & 9888 \\ \hline \multirow[t]{3}{*}{, 2024} & & Bonds Payable & 9815 & \\ \hline & & Contributed Surplus - Conversion Rights & 73 & \\ \hline & & Interest Expense & $32 & \\ \hline \end{tabular} On January 1,2023, DMW Corporation issued a series of 100 convertible bonds, maturing in 5 years. The face amount of each bond was $500. DMW received $51,500 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. DMW amortized bond premiums and discounts using the effective interest method, and the company's year-end was December 31. DMW 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 $30,810 due to a decrease in market interest rates, a conversion inducement of $27/ 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. Prepare the journal entry at June 30, 2024. e. Prepare the journal entry at December 31, 2024. f. Prepare the journal entry at January 1,2025. (Do not round intermediate calculations. Round answers to 0 decimal places eg. 58,971. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record joumal entries in the order presented in the problem. List all debit entries before credit entries.) , 2024 Bonds Payable 9815 Contributed Surplus - Conversion Rights Interest Expense Common Shares iber 31,2024 Interest Expense Bonds Payable Cash Bonds Payable Loss on Redemption of Bonds Contributed Surplus - Conversion Rights Retained Earnings Common Shares Cash 73 532 \begin{tabular}{||r||} \hline 10411 \\ \hline \end{tabular} 2512 \begin{tabular}{|r|} \hline 112 \\ \hline 2400 \\ \hline \end{tabular} 29439 \begin{tabular}{|r|r|} \hline \multicolumn{1}{|r|}{1371} \\ \hline 219 \\ \hline 249 \\ \hline \end{tabular} \begin{tabular}{|c|c|} \hline 2512 & \\ \hline & 112 \\ \hline & 2400 \\ \hline 29439 & \\ \hline 1371 & \\ \hline 219 & \\ \hline 249 & \\ \hline & 29658 \\ \hline & 1620 \\ \hline \end{tabular}