Use the following information for 8, 9, 10 Alder Maple Cedar Movie Theatres has 35,000 $1,000 convertible bonds outstanding on 12/31/2020: 1. Face Amount: $35,000,000 (35,000 * $1,000) 2. Stated Rate: 6% (interest paid annually on 12/31) 3. Maturity date: is 12/31/2028 4. Initially sold on 1/1/19. 5. Each $1,000 bond can be converted to 100 shares of $3 par value common stock On 1/1/2021, the adjunct premium account connected to these on bonds had the value of $4,712,921.41. On 1/1/2021, bonds with a total face value of $20,000,000 were converted to stock when the market value of the company's stock was $19/share. 8. Record the journal entry to account for this conversion using the book value method. Date Account Debit Credit 1/1/2021 9. Record the journal entry to account for this conversion using the market value method. Date Account Debit Credit 1/1/2021 10. Review your answers to 8 and 9. Why do you suppose the Book Value Method is used more often than the Market Value Method