Question
On July 1, 2019, Patrick Corporation called its 5% $4 million convertible bonds for conversion. There was $85,500 of unamortized discount on July 1, 2019.
On July 1, 2019, Patrick Corporation called its 5% $4 million convertible bonds for conversion. There was $85,500 of unamortized discount on July 1, 2019. On the date of conversion, the bonds fair value was $3,935,000 so the company paid an additional $38,000 to induce the conversion. What amount would be recorded as a Loss on Conversion when preparing the journal entry on July 1, 2019? Show calculations
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Auditing Self Storage Preventing Employee Theft And Embezzlement The Majority Of Self Storage Managers Are Trustworthy Responsible Reliable And Honest Embezzlement Is Often A Crime Of Opportunity
Authors: Tom Litton, Poppy Behrens, Erica Shatzer, George Bernal
1st Edition
0977157814, 978-0977157815
