huny corp

5 On January 1, 2017, Huny Corporation issued $6 million of 7%, 10 year convertible bonds at 99. The 6 bonds pay interest on June 30 and December 31. Each $1,000 bond is convertible into 20 shares of no 7 par common stock. Frank Company purchased 20% of the issue as an investment. On January 1, 2020, 8 Frank converted all of its bonds into common stock of Huny. The market price per share for Huny was 9 $30 at the time of the conversion. Both companies use the straight-line method for amortization 11 Required: 12 Prepare journal entries for the issuance of the bonds on the issuer and the investor books, 13 Prepare the journal entries for the conversion on the books of the issuer and the investor 15 Issuance Huny 5.940.000