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Prepare only those journal entries that the company make

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Question - On March 1, 2018, the Miner Company received authorization to issue $160,000 in debentures.

The bonds have a stated interest rate of 6%, and they mature in ten years. Interest is payable each February 28th and August 31st. On October 31, 2021, Miner issued 90 of the bonds and received cash from the lender in the total amount of $98,500.

Then, on May 1, 2025, the bondholders converted the bonds into 8,800 shares of Miner's $10 par common stock.

Miner paid all interest due on May 1st in cash. Miner has a fiscal year-end that ends each June 30th. Prepare ONLY those journal entries that the company would make relating to the bonds on MARCH 1, 2018, OCTOBER 31, 2021, FEBRUARY 28, 2022, and MAY 1, 2025.

Reference no: EM132915817

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