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1/1/20, ABC corp issued 10,000 units of $1,000 convertible, 20 year bonds at 101. Interest of 10% is paid annually on 1/1. Each bond is
1/1/20, ABC corp issued 10,000 units of $1,000 convertible, 20 year bonds at 101. Interest of 10% is paid annually on 1/1. Each bond is convertible after 5 years into 10 shares of $10 par value common stock. a. prepare the entry to issue the bonds on 1/1/20 b. prepare the entry to record interest expense and amortization on 12/31/20 c. prepare the entry for conversion of all the bonds after 5 years has gone by into ABC common stock
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