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Business, 20.12.2019 22:31 michaireid04

Marigold corp. issued at a premium of $9200 a $198000 bond issue convertible into 4800 shares of common stock (par value $20). at the time of the conversion, the unamortized premium is $3600, the market value of the bonds is $218000, and the stock is quoted on the market at $60 per share. if the bonds are converted into common, what is the amount of paid-in capital in excess of par to be recorded on the conversion of the bonds?
prepare the journal entry to record the conversion of the bonds to common stock.

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