Prepare the entries g should make on jan

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Problem 1: G issued $5,000,000 of 2%, 5-year convertible bonds on 07-01-14 when the market rate for similar bonds was 2.25%. The bonds were dated 07-01-14 with interest payable January 01 and July 01. G incurred and paid $45,000 of bond issuance costs. On 01-01-18 after making its interest payments, 25% of the bonds were converted into 12,500 shares of G's $1 par value common stock. At the time of the conversion, one share of G's common stock was trading for $124 per share. G only prepares AJEs every December 31. Prepare the entries G should make on:

(a) 07-01-14
(b) 12-31-14
(c) 12-31-17
(d) 01-01-18
(e) 12-31-18

Reference no: EM132819986

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