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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 is
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
REQUIRED;
Prepare the journal entry to record the conversion of the bonds.
Ex. 7. -Convertible debt at the time of conversion - Homework problem 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. EQUITY SECURITIES
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Accounting Tools for business decision making
Authors: kimmel, weygandt, kieso
4th Edition
978-0470117262, 9780470534786, 470117265, 470534788, 978-0470095461
