-Record the issuance of the bonds by Gless.

-Record the purchase of the bond investment by Century

-Record the interest payment by Gless.

-Record the receipt of interest by Century.

-Record the entry for Gless regarding the conversion of the bonds

-Record the entry for Century regarding the conversion of the bonds

On January 1, 2016, Gless Textiles issued $27 million of 8%, 10-year convertible bonds at 101. The bonds pay interest on June 30 and December 31. Each $1,000 bond is convertible into 40 shares of Gless's no par common stock. Bonds that are similar in all respects, except that they are nonconvertible, currently are selling at 99 (that is, 99% of face amount). Century Services purchased 15% of the issue as an investment. Required: 1. Prepare the journal entries for the issuance of the bonds by Gless and the purchase of the bond investment by Century. (Enter your answers in whole dollars. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) view transaction list view general journal Journal Entry Worksheet 1 2 Record the issuance of the bonds by Gless Date Credit General Journal Debit January 01, 2016 *Enter debits before credits clear entry record entry