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On January 1, 2023, WMT Corporation issued a series of 100 convertible bonds, maturing in 5 years. The face amount of each bond was $500. WMT received $51,500 for the bond issue. The bonds paid interest every December 31 at 5%; the market interest rate for bonds with a comparable level of risk was 5.50%. The bonds were convertible to common shares at a rate of 12 common shares per bond. WMT amortized bond premiums and discounts using the effective interest method, and the company's year-end was December 31. WMT follows ASPE. On January 1, 2024, 20 ofthe bonds were converted into common shares. On June SO, 2024, another 20 bonds were converted into common shares. The bondholders chose to forfeit the accrued interest on these bonds. On January 1, 2025, when the fair value of the bonds was $30,800 due to a decrease in market interest rates, a conversion inducement of $30/bond was offered to the remaining bondholders to convert their bonds to common shares. All of the remaining 60 bonds were converted into common shares at this time. Screenshot 2024-02-07155706jpg December 31, 2024 v January I, 2025 O a. b. d. Prepare the journal entry at January 1, 2023. Prepare the journal entry at December 31, 2023. Prepare the journal entry at January 1, 2024. Prepare the journal entry at June 30, 2024. Prepare the journal entry at December 31, 2024. Prepare the journal entry at January 1, 2025. (Do not round intermediate calculations. Round answers to O decim Screenshot 2024-02-07 155... 1.2023 1.2024 2024 2425 : osse Interest Expense Bonds Payable Retained Earnings