On April 1, 2018, the company issued $2,000,000, 10% bonds, when the market yield is 9%. Interest is payable annually on January 1, and the bonds mature on January 1, 2028. The bonds are convertible. Each $1,000 bond is convertible into 30 shares of common stock.

Bond principle
Bond price
Stated interest rate
Market yield
Term in years
Months before bonds were sold
Value of conversion (bonds)
Number of CS can be converted to

Journal Entry at 4/1/18 ??? PV function formula for bond price???