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CONVERTIBLE DEBT AT TIME OF CONVERSION - On October 1, 2018, $3,000,000 bonds were converted into 30,000 shares of $10 par common stock. At the

CONVERTIBLE DEBT AT TIME OF CONVERSION - On October 1, 2018, $3,000,000 bonds were converted into 30,000 shares of $10 par common stock. At the time of conversion, the unamortized premium is $8,000. Prepare journal entry to record the conversion of the bonds.

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