Question 5 of 7 View Policies Current Attempt in Progress -/12 1 For each of the unrelated situations described below, prepare the entries required to record the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) 1. On August 1.2023, Bramble Corporation called its 10% convertible bonds for conversion. The $4,000,000 par value bonds were converted into 160,000 no par common shares. On August 1, there was $351.000 of unamortized premium applicable to the bonds. At the time of issuance, Contributed Surplus-Conversion Rights was credited for $153,000, which represented the equity portion of the convertible bonds, and the market value of the common shares was $21 per share. The company records the conversion using the book value method. Ignore all interest payments 2. Avayal Inc, Issues 10% convertible bonds, par $1,000,000, at 97. The investment banker indicates that if the bonds had not been convertible they would have sold at 94. Use the residual method. 3 Cullumber Ltd. issues $2,000,000 par value, 8% bonds. To help the sale, detachable stock warrants are issued at the rate of ten warrants for each $1,000 bond sold. It is estimated that the value of the bonds without the warrants is $1.972.000 and the value of the warrants is $128.000. The bonds with the warrants sold at 103. Use the residual method No. Account Titles and Explanation 1. Bonds Payable Contributed Surplus Conversion Rights Common Shares Debit 4000000 351000 Credit