Question
A company issued $550,000 of 7%, 10 year convertible bonds on January 1, 2020 at 95. The bonds pay interest on June 30 and December
A company issued $550,000 of 7%, 10 year convertible bonds on January 1, 2020 at 95. The bonds pay interest on June 30 and December 31. Bond discount/premium is amortized semiannually on a straight-line basis. On June 30, 2025, these bonds were converted into common stock. What should be the unamortized bond discount/premium on June 30, 2025 relating to the bonds converted ? Please show work and put answer in dollar amount (:
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Intermediate Accounting
Authors: James D. Stice, Earl K. Stice, Fred Skousen
16th Edition
324376375, 0324375743I, 978-0324376371, 9780324375749, 978-0324312140
