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Chegg Corp. issued $1,000,000 par value 5% convertible bonds at 98. It is estimated that had the bonds not been convertible they would have sold
Chegg Corp. issued $1,000,000 par value 5% convertible bonds at 98. It is estimated that had the bonds not been convertible they would have sold for 94. There was $50,000 in expenses incurred at the time of issuance. What entry(s) must be recorded?
An answer with a clear expalation please.
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