The following unrelated transactions that took place during the financial year ended 30 June 2022: (i) On 1 may 2022, lancaster ltd called its 10% convertible bonds for conversion. the $7 million bonds were converted into 200,00 ordinary shares of $38.5 each. on 1 may 2022, there was $800,000 of unamortised premium applicable to the bonds. the share premium - conversion equity account had a balance of $500,000. ignore all interest payments.

For each of the unrelated transactions described above, prepare the journal entries required to record the bond transactions. Ignore narrations.