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Stonewall Corporation issued $40,000 of 5%6,10-year convertible bonds. Each $1,000 bond is convertible to 10 shares of common stock (par $50 ) of Stonewall Corporation.

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Stonewall Corporation issued $40,000 of 5%6,10-year convertible bonds. Each $1,000 bond is convertible to 10 shares of common stock (par $50 ) of Stonewall Corporation. The bonds were sold at 105 on January 1 . a. Provide the entry for Stonewall Corporation on lanuary 1 for the bond issuance

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