Petrenko Corporation has outstanding 2,000 of $1,000 bonds, each convertible into 50 shares of $10 par value
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Petrenko Corporation has outstanding 2,000 of $1,000 bonds, each convertible into 50 shares of $10 par value common stock. The bonds are converted on December 31, 2025, when the unamortized discount is $30,000 and the market price of the stock is $21 per share. Record the conversion using the book value approach.
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Related Book For 
Intermediate Accounting
ISBN: 9781119790976
18th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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