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(1 points) Sweet Corporation has outstanding 3,250 $1,000 bonds, each convertible into 40 shares of $10 par value common stock. The bonds are converted on

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(1 points) Sweet Corporation has outstanding 3,250 $1,000 bonds, each convertible into 40 shares of $10 par value common stock. The bonds are converted on December 31, 2017, when the unamortized discount is $65,100 and the market price of the stock is $25 per share. Record the journal entry for the conversion using the book value approach. Accounts Debits Credits

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