Question 12 of 13 / 25 ini View Policies Current Attempt in Progress On January 1, 2020.Shefheld Corporation issued $1,100,000 of 10 year, 8% convertible debentures at 104. Interest is to be paid semiannually on June 30 and December 31. Each $1.000 debenture can be converted into shares of Sheffield Corporation $102 par value common stock after December 31, 2021. On January 1, 2022, 5410,000 of debentures are converted into common stock, which is then selling at $111. An additional $410,000 of debentures are converted on March 31, 2022. The market price of the common stock is then $116 Accrued interest at March 31 will be paid on the next interest date Bond premium is amortized on a straight-line basis. Make the necessary journal entries for: (a) December 31, 2021 January 1, 2022 c) (d) March 31, 2022 kine 30, 2022 Record the conversions using the book value method. (Credit account titles are automatically Indented when amount is entered. Do not Indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Round answers to decimal places, es 5,275) Debit Credit No. Date Account Tities and Explanation Dec (a) 31. 2021 (b) Jan. 1. 2022 a II E Question 12 of 13 > -/25 (b) Jan 1. 2022 Mar ( 31, 2022 (To record interest expense) Mar. 31. 2022 (To record the conversion) Juni (d) 30. 2022 BE @