Prepare journal entries to record the following transactions relating to long-term bonds of Hopeful Care Inc. (Show computations.) (a) On January 1, 2020, Hopeful Care Inc. issued $8,000,000, 6% convertible bonds for $7,840,000. Interest is payable annually on January 1 with the bonds maturing on January 1, 2030. (b) On January 1, 2025, HC Inc. bonds had a carrying value of $7,920,000 (Bond Payable is $8,000,000 and Discount on Bond Payable is $80,000) when all the bondholders decided to convert the bonds into common stock. Each $1,000 bond is convertible into 100 shares of $5 par value common stock