journal/eliminating entries and calculations. If they are relevant. Partial credit may be awarded even if your answer is incorrect. In any case, all work must be shown to earn credit even when your final answer is correct. Question 3 8 pts Fogel Co. has $4,000,000 of 8% convertible bonds outstanding. Each $1,000 bond is convertible into 30 shares of $30 par value common stock. The bonds pay interest on January 31 and July 31. On July 31, 2018, the holders of $1,280,000 bonds exercised the conversion privilege. On that date the market price of the bonds was 105 and the market price of the common stock was $36. The total unamortized bond premium at the date of conversion was $280,000. Prepare the journal entry for the conversion. Edit View Insert Format Tools Table 12pt Paragraph U A T2