Longbine Corporation redeemed $137,000 face value, 10% bonds on June 30, 2017, at 106. The carrying value of the bonds at the redemption date was $122,500. The bonds pay annual interest, and the interest payment due on June 30, 2017, has been made and recorded.

2. Tastove Inc. redeemed $154,000 face value, 16.00% bonds on June 30, 2017, at 98. The carrying value of the bonds at the redemption date was $157,000. The bonds pay annual interest, and the interest payment due on June 30, 2017, has been made and recorded.

3. Precision Company has $81,000, 6%, 12-year convertible bonds outstanding. These bonds were sold at face value and pay annual interest on December 31 of each year. The bonds are convertible into 20 shares of Precision $5 par value common stock for each $1,000 worth of bonds. On December 31, 2017, after the bond interest has been paid, $13,000 face value bonds were converted. The market price of Precision common stock was $41 per share on December 31, 2017.