[Read-Only - Excel ACOM Tom insen Tell me what you want to dis Page Layout General 16 Xou Da Copy Format Paint AA A- Insert Delete Format Merge & Centrs 5 - 96 Conditional Format Cell Formatting Table Styles stes Ford Celts Alignment Number 615 Make the journal entry when the bonds are converted, G H 1 on January 1, 2020 Hogwarts Company issued (sold) 900, $1000 par 8% 20 year bonds when the 2 market rate of interest was 5%. Each of these bonds are convertible and can be exchanged for 10 shares of Hogwart's $50 par common stock. These bonds pay interest on July 1 and January 1 each year. Required: Part 1: a) make the journal entry Hogwart's makes when it issues the bonds b) make the journal entry Hogwart's makes when it makes its first interest payment July 1, 2020 c) make the necessary adjusting entry on December 31st 2020 1 an Part 2: On January 2nd 2021, Hogwarts retires the bonds by acquiring them for $904,000. Make the necessary journal entry 11 Part 3: Ignoring part 2 On January 2nd 2021, the bondholders exchanged their bonds for Hogwarts stock. On January 2nd Hogwarts stock is selling for 5145 per share. Make the surnal entry when the bonds are converted Pyoe het