I have worked in two projects but I do not get right.

On January 1, 2019, when its $30 par value common stock was selling for $80 per share, Flint Corp. issued $12,400,000 of 8% convertible debentures due in 20 years. The conversion option allowed the holder of each $1,000 bond to convert the bond into five shares of the corporation's common stock. The debentures were issued for $13,392,000. The present value of the bond payments at the time of issuance was $10,540,000, and the corporation believes the difference between the present value and the amount paid is attributable to the conversion feature. On January 1, 2020, the corporation's $30 par value common stock was split 2 for 1, and the conversion rate for the bonds was adjusted accordingly. On January 1, 2021, when the corporation's $15 par value common stock was selling for $13S per share, holders of 30% of the convertible debentures exercised their conversion options. The corporation uses the straight-line method for amortizing any bond discounts or premiums. (a) Prepare the entry to record the original issuance of the convertible debentures. (Credit account titles are automatically indented when amount is entered. DO not indent manually. If no ento' is required, select "NO Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Cash Bonds Payable Premium on Bonds Payable Debit 13,392000 Credit 12.400000 992000 (b) Prepare the entry to record the exercise of the conversion option, using the book value method. (Credit account titlesare automatically indented when amount is entered. DO not indent manually. If no entry is required, select "NO Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Bonds Payable Premium on Bonds Payable Common Stock Paid-in Capital in Excess of Par - Common Stock Debit 267,840 Credit