Question
On January 1, the $1,500,000 par value bonds of Spitz Company with a carrying value of $1,500,000 are converted to 500,000 shares of $1 par
On January 1, the $1,500,000 par value bonds of Spitz Company with a carrying value of $1,500,000 are converted to 500,000 shares of $1 par value common stock.
Record the entry for the conversion of the bonds.
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Financial And Managerial Accounting
Authors: Jan R. Williams, Joseph V. Carcello, Mark S. Bettner, Sue Haka, Susan F. Haka
14th International Edition
0071101217, 9780071101219
