The following transactions are related to Gold Corp equity in 2020:

Jan 5 Sold for cash 1,000 convertible bonds, 3 years, par $1,000 per share at $ 1,000,000. Present value bonds (without conversion rights) $947,605. 1 bond can be converted into 80 ordinary shares ( par @ $10).

Mar 3 Purchased 20,000 treasury shares at $20 per share

May 10 Sold for cash 1,000 bonds, 4 years, par $1,000 per share with share warrants for $ 1,050,000. Present value bonds without share warrants $990,000. Share warrant to buy 25,000 ordinary shares par $10 at $15 per share.

Jun 9 Sold 12,000 treasury shares for a total price of $ 300,000

Jul 28 Announced $15,000 liquidating dividend

7 Aug 15,000 warrants used. The current market price for ordinary shares is $ 30 per share

28 Oct Paid liquidating dividend announced 28 Jul

31 Dec The remaining unused warrants have expired on 31 December 2019

Required: (MANDATORY present the calculation)

a. Prepare journal entries to record the above transactions.

b. If at maturity, bonds payable are converted into shares, make the necessary journal entries!