On January 1, 2020 ABC Co. issued a bond and retired its note payable.
Bond information
Face value				$ 100,000
Coupon rate				6.0%
Term				5	years
Net proceeds				$ 106,000
Interest will be paid semi-annually on June 30 and December 31.
At the investor's option, each $1,000 bond is convertible into 50 common shares of the company. Your
investigation into similar bond issues showed that had the company issued the debt without the conversion option, the market rate of interest on the bond would have been 8.0% Prepare all necessary journal entries for 2020.
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