Semiannually on a straight-line basis

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Reference no: EM13121022

Schuss Inc. issued $3,000,000 of 10%, 10-year convertible bonds on June 1, 2010, at 98 plus accrued interest. The bonds were dated April 1, 2010, with interest payable April 1 and October 1. Bond discount is amortized semiannually on a straight-line basis.

On April 1, 2011, $1,000,000 of these bonds were converted into 30,000 shares of $20 par value common stock. Accrued interest was paid in cash at the time of conversion. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2. Round computations and final answers to 0 decimal places, e.g. 12,510.)

Reference no: EM13121022

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Semiannually on a straight-line basis : Schuss Inc. issued $3,000,000 of 10%, 10-year convertible bonds on June 1, 2010, at 98 plus accrued interest. The bonds were dated April 1, 2010, with interest payable April 1 and October 1. Bond discount is amortized semiannually on a straight-li..

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