Stockholders’ equity for Channa Co. on December 31 was as follows:

Preferred stock, $14 par, 25,000 shares issued and outstanding . . . . . . . . $ 350,000

Paid-in capital in excess of par—preferred stock . . . . . . . . . . . . . . . . . . . . . 100,000

Common stock, $9 par, 125,000 shares issued and outstanding . . . . . . . . 1,125,000

Paid-in capital in excess of par—common stock . . . . . . . . . . . . . . . . . . . . . 875,000

Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,600,000

Preferred stock is convertible into common stock.

Provide the entry made on Channa Co.’s books assuming that 6,000 shares of preferred are converted under each assumption listed:

1. Preferred shares are convertible into common on a share-for-share basis.

2. Each share of preferred stock is convertible into 4.0 shares of common.

3. Each share of preferred stock is convertible into 1.5 shares of common.