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PART II: Dilutive Securities and Earnings per Share (33 points, 3 questions, points as indicated) 4. (8 Points) On January 1, 2015, Yang Corporation had

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PART II: Dilutive Securities and Earnings per Share (33 points, 3 questions, points as indicated) 4. (8 Points) On January 1, 2015, Yang Corporation had issued a total of $2,000,000,8% convertible bonds, due 12/31/2029. Each $1,000 bond certificate is convertible into 10 shares of Yang's $2 par value common stock. On January 1,2022, Yang paid $35 per bond to bondholders to induce conversion of the bonds. All bonds were converted. On that date, the balance in premium on bonds payable was $13,085. Provide the journal entry on January 1, 2022 to record the payment to bondholders and the conversion of the bonds using the book value method

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