On January 1, 2026, Lehner Ltd issued $10 million of 5%,20-year convertible bonds at 94 . The bonds pay interest on June 30 and December 31. Each $1,000 bond is convertible into 60 shares of Lehner's no par common stock. Prepare the journal entry to record the issuance of the bonds. [4 points] No Journal Entry Required On October 1,2032 , the market price of the stock was $56 per share and the remaining unamortized discount was $120,000. On that date, 30% of the bonds are converted. Prepare the journal entry to record the conversion. [ 4 points] No Journal Entry Required