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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

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.
image text in transcribed
Journal entry worksheet

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