On 7/1/2021, Young Co. converted its $400,000 outstanding bonds with a carrying value of $424,006 to its

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On 7/1/2021, Young Co. converted its $400,000 outstanding bonds with a carrying value of $424,006 to its $5 par Common stock. Each bond was converted to 30 common stocks and the market price of the common stock was $25.

The journal entry to record this transaction is:

Posted Date: Jun 01, 2024 05:14 AM

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On 7/1/2021, Young Co. converted its $400,000 outstanding bonds with a carrying value of $424,006 to its

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