Pechstein corporation issued 2120 shares of 13 par value

Reference no: EM13598384

Pechstein Corporation issued 2,120 shares of $13 par value common stock upon conversion of 1,140 shares of $49 par value preferred stock. The preferred stock was originally issued at $57 per share. The common stock is trading at $26 per share at the time of conversion. Record the conversion of the preferred stock.

Reference no: EM13598384

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