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Question 18 2.5 pts Marley Inc. sold $500,000 of its ten-year 8% bonds at 96 on January 1, 2014. Interest is paid each January 1

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Question 18 2.5 pts Marley Inc. sold $500,000 of its ten-year 8% bonds at 96 on January 1, 2014. Interest is paid each January 1 and July 1 and straight-line amortization is used. Each $1,000 bond is convertible into 100 shares of $10 par common stock. One-half of the bonds were converted on January 1, 2019, when the book value of the bonds was $490,000. The market value of the stock at the time of conversion was $14 per share. The entry to record the conversion using the market value method would include a : credit to Gain from Conversion for $105.000. debit to Retained Earnings fro $105,000 debit to Loss from Conversion for $105,000 debit to Additional Paid-in Capital from Bond Conversion for $105,000

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