Dilin, Inc. issues 1.700 x year 2% convertible bonds at par of $1 00. Each $1,000 bond converts into 10 shares of no par value common stock at the option ofthe bondholder beginning three years after the date of issue. There were no bond issue costs. The market price o he common stock when the bonds are issued is S127 per share interest is paid annualy Read the requirements. Requirem Requirements ts first, then credits. Exclude explanations from any journal entries.) Account Cash a. Prepare the journal entry to record the issuance of Dillin's convertible debt. b. What is the effective interest rate on the bonds? Print Done