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On January 1 , the $6,900,000 par value bonds of Spitz Company with a carrying value of $6,900,000 are converted to 2,300,000 shares of $1

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On January 1 , the $6,900,000 par value bonds of Spitz Company with a carrying value of $6,900,000 are converted to 2,300,000 shares of $1 par value common stock. Record the entry for the conversion of the bonds. Journal entry worksheet Record the retirement of bonds by stock conversion. Note: Enter debits before credits

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