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On January 1 , 2 0 xo Pray Shah Limited issued $ 1 5 , 0 0 0 , 0 0 0 of 1 0
On January xo Pray Shah Limited issued $ of year debenture at Investment bankers believe that the debentures would have sold at without the corversion privilege. Interest is to be paid semiannually on June th and December Each $ debenture can be converted into ten of Pray Shah Limited's nopar common shares after December
On January $ of the debentures are converted into common shares, which were selling at $ An additional $ of the debentures are converted on March X The market price of the common shares is then $ Accrued interest at March will be paid when the bond is converted. The bond premium is to be amortized on a straightline basis. Pray Shah Limited Shows Both the Equity and Liability Components.
Required:
Prepare the journal entries on January
Prepare the journal entries on December
Prepare the journal entries on January assuming the cost basis.
Prepare the journal entries on March X assuming the cost basis.
Prepare the journal entries on June X
Please Use Format Below to Answer the Required Entries:
tableDescriptionAccountDebit,Credit
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