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9. On January 1, 2015, Slug Corporation issued $0.3 mln of 10%, 10-year convertible bonds at 102, The bonds pary intorest on June 30 and
9. On January 1, 2015, Slug Corporation issued $0.3 mln of 10%, 10-year convertible bonds at 102, The bonds pary intorest on June 30 and December 31. Each $1,000 bond is convertible into 50 shares of $1 par common stock. Fuzz Company purchased 30% of the issue s an investment. On July 1, 2019, Fuzz converted all of its bonds into common stock of lug. The market price per share for Slug was $35 at the tme of the conversion. Both companies use the straight-ine method for amortization. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in whole dollars.) 1. Prepare journal entries for the issuan of the bonds on the issuer and the investor books, View transaction list Journal entry worksheet Record the ISSUER-Issuance Note: Enter debits before credits. General Journal Debit Credit Record entry Clear entry View general journal 2. Prepare the journal entries for the conversion on the books of the issuer and the investor MacBook Air esc F2 F4 FS F6 F7
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