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Parker Company issued $ 4 , 0 0 0 , 0 0 0 , 1 0 % , ten - year convertible bonds on July
Parker Company issued $ tenyear convertible bonds on July at The bonds were dated July with interest payable every on July annual pay Bond discount is amortized on a straightline basis. On July $ of these bonds were converted into shares of $ par value common stock after the interest payment was made.
Required:
Prepare the necessary journal entries for:
a The issuance of the bonds on
b The first interest payment on
c The conversion on
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