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For each of the unrelated transactions described below, present the entry(ies) required to record the bond transactions. 2. Packard, Inc. decides to issue convertible bonds

For each of the unrelated transactions described below, present the entry(ies) required to record the bond transactions.

2. Packard, Inc. decides to issue convertible bonds instead of common stock. The company issues 10% convertible bonds, par $3,000,000, at 97. The investment banker indicates that if the bonds had not been convertible they would have sold at 94.

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