On January 1, 2005, the $1,000,000 par value bonds of Gruden Company with a carrying value of
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On January 1, 2005, the $1,000,000 par value bonds of Gruden Company with a carrying value of
$1,000,000 are converted to 500,000 shares of $0.50 par value common stock. Record the entry for the conversion of the bonds.
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Kirti Kaushal
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