please explain

On January 1, 2018, when is $30 par value common slock was selling for $80 per share, a corporation issued $10 mition of 10% comvertible debentures due in 10 years. The conversion option aliowed the holder of each $1,000 bond to eonvort it into six shares of the corporation's $30 par value cornman stock. The debertures wore issued for $11 milion, At the time of issuance, the present value of the bond payments was $8.5 millon, and the corporation believes the ditforence between the present value and the amoun paid is atiributable to the comversion leature. On January 1, 2019, the corporation's $30 par value common stock was split 3 lor 1 , On January 1 , 2020, when the corporafion's $10 par value common stock was seling lor $90 per share, holders of 40% of the convertble debentures oxorcised their comversion options. The corporation uses the straightline method for amortieing any bond discounts or premiums Required 1. Prepare the joumal entry to rocord the originat issuance of the comvertble dobentures 2. Prepare the joumal entry to recovd the evercise of the converion option, using the book vatue memhod Prepare the journal entry to record the original issuance of the convertibie debentures on January 1,2018. Prepare the joumal entry to record the exercise of the conversion ontion, using the book value mothod on January 1 , 2020. ertible Bonds Prepare the journal entry to record the exercise of the conversion option, using the book value method on January 1, 2020. General Joumal Instructions