The Smith Company issued 15,000 shares of convertible 3% preferred stock (S100 par value) twenty years ago at a price of $102. The company has not paid dividends in the past two years. The stock issue cost paid was $2,000 and the company paid an additional $8,000 to stockholders to get them to convert. The preferred stockholders received 10 shares of $3 par common stock for each share of preferred stock. Conversion of a Bond The Smith Company issued an 8%, ten year, $100,000 bond with a yield of 6%. Interest is paid 6/30 and 12/31. The company has a 12/3) year-end. The book value of the bond was $105,417 on 12/31/x0. The bonds converted into 20,000 shares of $3 par common stock on March 1, xl. The stock issue cost paid was $10.000 and the company paid an additional $25,000 to bond bolders to get them to convert. Record all required entries on 3/1/x). The Smith Company issued 15,000 shares of convertible 3% preferred stock (S100 par value) twenty years ago at a price of $102. The company has not paid dividends in the past two years. The stock issue cost paid was $2,000 and the company paid an additional $8,000 to stockholders to get them to convert. The preferred stockholders received 10 shares of $3 par common stock for each share of preferred stock. Conversion of a Bond The Smith Company issued an 8%, ten year, $100,000 bond with a yield of 6%. Interest is paid 6/30 and 12/31. The company has a 12/3) year-end. The book value of the bond was $105,417 on 12/31/x0. The bonds converted into 20,000 shares of $3 par common stock on March 1, xl. The stock issue cost paid was $10.000 and the company paid an additional $25,000 to bond bolders to get them to convert. Record all required entries on 3/1/x)