On January 1, 2019, Marin issued 10-year, $100,000 face value, 6% bonds at par. Each $1,000 bond is convertible into 30 shares of Marin $2 par value common stock. The company has had 10,000 shares of common stock (and no preferred stock) outstanding throughout its life. None of the bonds have been converted as of the end of 2020. (Ignore all tax effects.)

(a)

Prepare the journal entry Marin would have made on January 1, 2019, to record the issuance of the bonds. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 31, 2019

Save for Later

Attempts: 0 of 1 used

Submit Answer

(b)

The parts of this question must be completed in order. This part will be available when you complete the part above.

(c)

The parts of this question must be completed in order. This part will be available when you complete the part above.