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Cullumber Capital Ltd. issued 800 convertible $1.000 bonds at 103. After issuance, similar bonds were sold at 97. Assume that Cullumber Capital Ltd. follows IFRS

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Cullumber Capital Ltd. issued 800 convertible $1.000 bonds at 103. After issuance, similar bonds were sold at 97. Assume that Cullumber Capital Ltd. follows IFRS and recorded the issuance of the bonds and conversion rights accordingly. On a date when the bonds had a carrying value of $ 782,600, Bantry paid $ 15,400 to the bondholders to induce early conversion. Record the conversion using the book value method. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts Save for Later Attempts: 0 of 2 used Submit

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