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On January 1, 2021. Gless Textiles issued $13 million of 10%, 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 entry for issuance of the bonds by Gless. 2. Prepare the journal entry for the June 30, 2025. interest payment by Gless assuming the company uses the straight line method 3. On July 1, 2026, when Gless's common stock had a market price of $33 per share, Century converted the bonds it held. Prepare the journal entry recorded by Gless for conversion of the bonds (book value method). Required: 1. Prepare the journal entry for issuance of the bonds by Gless. 2. Prepare the journal entry for the June 30, 2025. interest payment by Gless assuming the company uses the straight-line metho 3. On July 1, 2026, when Gless's common stock had a market price of $33 per share, Century converted the bonds it held. Prepar journal entry recorded by Gless for conversion of the bonds (book value method) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the journal entry recorded by Gless for issuance of the bonds. (If no entry is required for a transaction/event, select "No journa entry required in the first account field. Enter your answers in whole dollars.) View transaction list Journal entry worksheet Record the issuance of the bonds by Gless, Note: Enter debits before credits Date General Journal Debit Credit January 01, 2021