PART IIl: Dilutive Security Traisactions 120 points total] - Briefly, but completely answer the following unrelated questions concerning dilutive and convertible securities. [10 points]On 10/1/18, Backstop Corporation issued $1,500,000 of 10-year, 11% convertible bonds at 103. Interest is paid semiannually on 3/31 and 9/30. Each $1,000 bond can be converted into fifteen common shares of Backstop Corporation $50 par value common stock. On 10/1/22, $450,000 of bonds is converted into common stock, which is then selling at $72. Bond discount/premium is amortized on a straight-line basis. A. Required: Prepare the 10/1/22 journal entry for conversion of bonds using the book value method