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Question 6 of 7 View Policies Current Attempt in Progress Pronghorn Caorporation has outstanding 2,300 $1,000 bonds, each convertible into 50 shares of $10 par

 

image text in transcribed Question 6 of 7 View Policies Current Attempt in Progress Pronghorn Caorporation has outstanding 2,300 $1,000 bonds, each convertible into 50 shares of $10 par value common stock. Thebonds are converted on December 31, 2020, when the unamortized discount is $36,400 and the market price of the stock is $21 per share. Record the conversion using the book value approach. (Credit account titles are automatically indented when amount is entered. Do notindent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit List of Accounts

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