On January 1.2013, when its $30 par value common stock was selling for $80 per share, Plato Corp. issued $10,000,000 of 8% convertible debentures due in 20 years. The conversion option allowed the holder of each $1000 bond to convert the bond into five shares of the coporation's common stock. The debentures were issued for $10,800,000. The present value of the bond payments at the time of issuance was $8,500,000, and the corporation believe the differnece between the present value and the amount paid is attributable to the conversion feature. On January 1, 2014, the corporation's $30 par value common stock was split 2 for 1, and conversion rate for the bonds was adjusted accordingly. On January 1, 2015, when the corporation's $15 par value common stock was selling for $135 per share, holders of 30% of the convertible debentures exercised their conversion options. The corporation uses a straight line method for amortizating any discounts or premiums. Instructions(a) Prepare in general journal form the entry to record the original issuance of the convertible debentures(b) Prepare in general journal form the entry to record the exercise of the conversion option, using the book value method. Show supporting computation in good form.