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On October 1, 2023, $3,000,000 bonds were converted into 30,000 shares of $10 par common stock. At the time of conversion, the unamortized premium

On October 1, 2023, $3,000,000 bonds were converted into 30,000 shares of $10 par common stock. At the time of conversion, the unamortized premium is $8,000. Prepare the journal entry to record the conversion of the bonds.

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