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For each of the unrelated transactions described, present the entry required to record each transaction.
I.Conard Company issued $20,000,000 par value 10% bonds at 98. One detachable stock purchase warrant was issued with each $100 par value bond. At the time of issuance, the warrants were selling for $4.

II. Hills Corp. issued $20,000,000 par value 10% convertible bonds at 99. If the bonds had not been convertible, the company’s investment banker estimates they would have been sold at 95. Expenses of issuing the bonds were $70,000.

III.Necton, Inc. called its convertible debt in 2009. Assume the following related to the transaction: The 11%, $10,000,000 par value bonds were converted into 1,000,000 shares of $1 par value common stock on July 1, 2009. On July 1, there was $55,000 of unamortized discount applicable to the bonds, and the company
paid an additional $75,000 to the bondholders to induce conversion of all the bonds. The company records the conversion using the book value method.