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Thirty $1.000 bonds with a carrying value of $39,600 are converted into 3,000 shares of $5 par value common stock. The common stock had a

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Thirty $1.000 bonds with a carrying value of $39,600 are converted into 3,000 shares of $5 par value common stock. The common stock had a market value of $9 per share on the date of conversion. Prepare the journal entry to record the conversion of the bond to common stock. B I VAAI EE11 XX, DEE VTT 12pt Paragraph O words Question 4 12 pts

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