On July 1, 2019, when its 51 par valor common stock was selling for $6 persone, Teal Corp und $26.400.000 of 6% convertible debentures de in 10 years. The conversion option allowed the holder of each $1,000 bond to convert the bondinto 10 shares of the corporation's common stock. The debentures were med for $23,981.000. The corporation believes the difference between the por value and the amount paid is attributable to the conversion feature. On January 1, 2020, the corporations.common stock was split 2 for 1, and the conversion rate for the bonds was adjusted accordingly on January 1, 2021, when the corporation $0.50 par value common stock was selling for $38 per shareholders of 10.560 of the convertible debentures eached their conversion options The corporation uses the straight line method for amortising any bond discounts or premium (a) Prepare in generat journal form the entry to record the original issuance of the convertible debentures. (Credit account titles are automatically Indented when amount is entered. Do not indent morally no entry is required, select "No Entry for the account titles and enter for the amounts) Account Titles and Explanation Debit Credit Cash 27954000 Premium on Bonds Pavate 155-000 Bonds Pavabile 26400000 (b) Prepare in general journal form the entry to record the exercise of the conversion option, using the book value method Show supporting computations in good form. (Credit account titles are automatically indented when amount is entered. Do not indent manually I no entry is required, select "No Entry for the account titles and enter for the amounts) Account Titles and Explanation Debit Credit Bonds Payable Premium on Bands Payable