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Which kelley should record

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Question 1: Kelley should record, as a result of this conversion,

Select one:

a. credit of $78,125 to Paid-in Capital in Excess of Par. 

b. credit of $421,875 to Paid-in Capital in Excess of Par.

c. loss of $540,000.

d. credit of $28,125 to Premium on Bonds Payable.

Reference no: EM132783169

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