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Please Tell Correct Answer. Seville Ltd. reported the following at September 30, 2020: Required 1. Record retirement of one-half of the bonds on October 1,
Please Tell Correct Answer. Seville Ltd. reported the following at September 30, 2020: Required 1. Record retirement of one-half of the bonds on October 1, 2020, at the call price of 104.50. 2. Record conversion of one-fourth (of the original $2,000,000) of the bonds into 14,000 common shares of Seville Ltd. on October 1, 2020. Long-term liabilities: Convertible bonds payable, 9% due September 30, 2026 Discount on bonds payable $ 2,000,000 75,000 $ 1.925,000
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