Solution-Prepare the entries at the date of issuance

Prepare the entries at the date of issuance

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Reference no: EM13513141

A corporation issues a $200,000 par, 4-year bond at 95. The bond is convertible into 1,000 shares of $120 par common stock. Two years later the bond is converted when the market value of the stock is $150. Prepare the entries at the date of issuance and at the date of conversion.

Reference no: EM13513141

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Prepare the entries at the date of issuance

Reference no: EM13513141

Reference no: EM13513141

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