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On July 1, 2021, an interest payment date, $152000 of Sunland Company bonds were converted into 3030 shares of Sunland Company common stock each having
On July 1, 2021, an interest payment date, $152000 of Sunland Company bonds were converted into 3030 shares of Sunland Company common stock each having a par value of $45 and a market value of $54. There is $5100 unamortized discount on the bonds. Using the book value method, Sunland would record
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