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On January 1, 2017, Marigold Corporation issued $4,380,000 of 10-year, 9% convertible debentures at 104, Interest is to be paid semiannually on June 30 and
On January 1, 2017, Marigold Corporation issued $4,380,000 of 10-year, 9% convertible debentures at 104, Interest is to be paid semiannually on June 30 and December 31, Each $1,000 debenture can be converted into 8 shares of Marigold Corporation $102 par value common stock after December 31, 2018 On January 1, 2019, $438,000 of debentures are converted into common stock, which is then selling at $112. An additional $438,000 of debentures are converted on March 31, 2019. The market price of the common stock is then $118. Accrued interest at March 31 will be paid on the next interest date Bond premium is amortized on a straight-line basis. Make the necessary journal entries for: (a) December 31, 2018. (c) March 31, 2019 (b) January 1, 2019(d) June 30, 2019 On January 1, 2017, Marigold Corporation issued $4,380,000 of 10-year, 9% convertible debentures at 104, Interest is to be paid semiannually on June 30 and December 31, Each $1,000 debenture can be converted into 8 shares of Marigold Corporation $102 par value common stock after December 31, 2018 On January 1, 2019, $438,000 of debentures are converted into common stock, which is then selling at $112. An additional $438,000 of debentures are converted on March 31, 2019. The market price of the common stock is then $118. Accrued interest at March 31 will be paid on the next interest date Bond premium is amortized on a straight-line basis. Make the necessary journal entries for: (a) December 31, 2018. (c) March 31, 2019 (b) January 1, 2019(d) June 30, 2019
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