Nero Solutions Co$.$ issued an $$1,000,000,8\%,$ three$-$year bond for $$1,006,000.$ The bond pays interest annually, at each year$-$end. At maturity, the bond can be repaid in cash or converted to $80,000$ common shares at the investor$$s option. The market interest rate for bonds of similar term and risk, but that are not convertible, is in the range of $9\%.$

Required:

$1.$ Calculate the portion of the bond to be recorded as a liability. $($Do not round intermediate calculations. Round your final answer to the nearest whole dollar amount.$)$

$2.$ Provide the entry to record issuance of the bond. $($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.$)$

$3.$ Provide the entries to record interest expense and the annual cash payment each year over the bond$$s three$-$year life. $($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.$)$

$4.$ Provide the entry to record the maturity of the bond, assuming that shares were issued. $($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.$)$

$5.$ Provide the entry to record the maturity of the bond, assuming that cash is paid. $($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.$)$

$6.$ Provide the entry to record early repayment of the bond, assuming that it was repaid in cash in an open market transaction after two complete years. Cash of $$1,010,000$ was paid, of which $$1,000,000$ related to the liability and $$10,000$ related to the conversion option. $($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.$)$