Cullumber Ltd soid $10$ year, $5$$ convertible bonds with fice value $$1,500,000.$ The bondi payineerest December $31$ each yeat Cullumber follows ASPE. Each bond was comertible into $500$ Cullumber common shares. The wale resulted in syibue for the comertible optlon of $$303,000.$ On January $2,2024,$ Culumber offered a cash payment of $$27,000$ to bondholders if they would convert their bonds into commonshares. Al of the boncholders agreed. At the time, the markat value of the bords was $$1\mathrm{.}397\mathrm{.}000$ and the carrying value on Cullumber's books was $$1\mathrm{.}330,000.$

Prepare the joumal entry so reoord the earfy retirement of the bonds $($Credte account pites are abomakcally indented when the amount is entered. Do not indent monually List all debit entries befort oresit entiles. If es entry lis repiend, select $"$No Enty' for the account ciles and enter Ofor the amounts$)$

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Curent Attempt in Progress Cullumber follows ASPE. Exhbord was comertile into S$00$ Oilhmber common ikures. The sale resulted in a valaefor the commertible option of $$303,000.$ On Jarvary $2\mathrm{.}2024,$ Cillumber offered a cash puyment of $$27,000$ sobondhoblersif they woulf comert their bonds into common shares. Al of the bonsholders agreed. At the time, the murlat value of the bonds was $51\mathrm{.}37,000$ and the carrying vilue on Cullumber's bookes was $$1\mathrm{.}330,000.$ enter Ofor the amounts.$)$

$\backslash$table$[[$Account Tities$],[$Bondi Proati$]]$

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