E$15\mathrm{.}1$B $($LO $1,2,3)($Issuance and Conversion of Bonds$)$ For each of the unrelated transactions described below, present the entry$($ies$)$ required to record each transaction. $1.$ Luther Corp. issued $$50,000,000$ par value $8\%$ convertible bonds at $102.$ If the bonds had not been convertible, the company$$s investment banker estimates they would have been sold at par. $2.$ Sepracor, Inc., issued $$35,000,000$ par value $12\%$ bonds at $101.$ One detachable stock purchase warrant was issued with each $$1,000$ par value bond. At the time of issuance, the warrants were selling for $$6\mathrm{.}50.3.$ On October $31,2025,$ Grand Corp. called its $10\%$ convertible debentures for conversion. The $$60,000,000$ par value bonds were converted into $600,000$ shares of $$1$ par value common stock. On October $31,$ there was $$155,000$ of unamortized premium applicable to the bonds, and the company paid an additional $$355,000$ to the bondholders to induce conversion of all the bonds. The company records the conversion using the book value method.