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will you please help me with requirement 2 and 3? On January 1, 2021. Gless Textiles issued $15 milion of 8%,10-year convertible bonds at 101

will you please help me with requirement 2 and 3?
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On January 1, 2021. Gless Textiles issued $15 milion 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 nonconvertble, currently are selling at 99 (that is, 99% of face amount). Century Services purchased 10% of the issue as an investment. Required: 1. Prepare the journal entries for the istuance of the bonds by Gless and the purchase of the bond investment by Century. 2. Prepare the journal entries for the June 30,2025 , interest payment by both Gless and Century assuming both use the straight-line method. 3. On July 1, 2026. when Gless's common stock had a market pice of $33 per share. Century converted the bonds it heid. Prepare the journal entries by both Gless and Century for the conversion of the bonds (book value method)

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