Comet Products prepares its financial statements according to International Financial Reporting Standards. On January $1,2024,$ Comet Products issued $$81\mathrm{.}2$ million of $7\%,10$ year convertible bonds at a net price or $$82\mathrm{.}8$ million. Comet recently issued similar, but nonconvertible bonds at $99($that is $99\%$ of face amount$).$ The bonds pay interest on June $30$ and December $31.$ Each $$1,000$ bond is convertible into $30$ shares of Comet's no par common stock.

Comet records interest by the straight line method.