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Sunland Company issued $ 6 9 0 0 0 0 0 of 8 % , ten - year convertible bonds on July 1 , 2
Sunland Company issued $ of tenyear convertible bonds on July at plus accrued interest. The bonds were dated April with interest payable April and October Bond discount is amortized semiannually on a straightline basis. On April $ of these bonds were converted into shares of $ par value common stock. Accrued interest was paid in cash at the time of conversion.
If "interest payable" were credited when the bonds were issued, what should be the amount of the debit to "interest expense" on October
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