On June 30,2024 , Blair Industries had outstanding $98 million of 7% convertible bonds that mature on June 30 , 2025. Interest is payable each year on June 30 and December 31 . The bonds are convertible into 8 million shares of $10 par common stock. On June 30,2024, the unamortized balance in the discount on bonds payable account was $4 million. On June 30,2024 , half the bonds were converted. Instructions: Prepare the necessary journal entry on January 1,2024. General Journal