On July 1, 2018, MTS Ltd. which follows ASPE, issued a series of $3,000,000 face-value convertible bonds due in five years. Each $1,000 bond allowed the holder to convert the bond to 100 common shares. On the day the bonds were issued, MTS calculated that the conversion rights were valued at $145,603. On July 1, 2024, the bonds had a carrying value on MTS s books of $2,946,720, and thel air market value of the bonds without the convertible option was $2.970.000. (a Assume all the bondholders voluntarily decided to convert their bonds to common shares on July 1, 2024. Prepare the journal entry to record the conversion. (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, List all debit entries before credit entries.) Account Titles and Explanation Debit Credit