converted into preferred stock.

Assuming that the book value method was used, what entry would be made? $($List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account title and enter $0$ for the amounts.$)$

Account Titles and Explanation

Debit

Credit

eTextbook and Media

Bramble Company has bonds payable outstanding in the amount of $$440,000,$ and the Premium on Bonds Payable account has a balance of $$7,400$ : Each $$1,00$ ctiond is convertible into $20$ shares of preferred stock of par value of $$50$ per share. All bonds are converted into preferred stock.

Assuming that the book value method was used, what entry would be made? $($List all debit entries before credit entries. Credit accoun titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account and enter $0$ for the amounts.$)$

Account Titles and Explanation

Debit

Credit