Business, 17.12.2020 20:30 Echo009

Thirty $1,000 bonds with a carrying value of $39,600 are converted into 4,000 shares of $5 par value common stock. The common stock had a market value of $9 per share on the date of conversion. The entry to record the conversion is

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Thirty $1,000 bonds with a carrying value of $39,600 are converted into 4,000 shares of $5 par value...

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