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Question 4: (4 points) B1, C1 | out of 4) Sunshine Company has $80,000. 10%, 5-year convertible bonds. On 1st of November, the company decided

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Question 4: (4 points) B1, C1 | out of 4) Sunshine Company has $80,000. 10%, 5-year convertible bonds. On 1st of November, the company decided to convert it into 4000 shares $15 par value common stock. On that day the market value of Sunshine's common stock was $18 per share and 90,000 for bonds. prepare the journal entry to record the conversion. Account Debit Credit

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