On January 1, 2023, Sheridan Corporation issued $8 million of 10 -year, 9% convertible debentures at 106. Investment bankers believe that the debenture would have sold at 103 without the conversion privilege. Interest is to be paid semi-annually on June 30 and December 31. Each $1,000 debenture can be converted into 5 common shares of Sheridan after December 31, 2024. On January 1,2025, \$576,000 of debentures are converted into common shares, and on March 31,2025, an additional $576,000 of debentures are converted into common shares. Fair value of Sheridan's common shares is $112 and $117 per share on January 1,2025 , and March 31, 2025, respectively. Accrued interest at March 31 will be paid on the next interest date. Bond premium is amortized on a straightline basis. Sheridan follows ASPE. (a) Make the necessary journal entries using the book value method. (Hint: March 31, 2025: Accrue interest on bonds to be converted as a first entry.) (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts. Round intermediate percentage calculations to 3 decimal places, eg. 1.246\% and final answers to 0 decimal places, eg. 5,275. List all debit entries before credit entries.) Question 12 of 15 0.66/1 Question 12 of 15 (To accrue interest.) th 31,2025 \begin{tabular}{|l|l||} \hline Loss on Retirement of Bonds & 40176 \\ \hline \hline \end{tabular} Common Shares (To record conversion.)