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Business, 24.02.2020 17:23 flyingcerberus1408

Assume that each $1,000 bond is convertible into 15 shares of $2 par value common stock and that on June 30, 2018 the $200,000 of bonds were converted into common stock instead by being repurchased by the company. Prepare the journal entry for Joyce Inc. to record the conversion of the bonds into stock on that date.

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