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Business, 04.03.2021 21:50 hela9astrid

Sunland Company has $3880000 of 7% convertible bonds outstanding. Each $1,000 bond is convertible into 30 shares of $30 par value common stock. The bonds pay interest on January 31 and July 31. On July 31, 2021, the holders of $1260000 bonds exercised the conversion privilege. On that date the market price of the bonds was 106 and the market price of the common stock was $36. The total unamortized bond premium at the date of conversion was $276000. Sunland should record, as a result of this conversion, a

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Sunland Company has $3880000 of 7% convertible bonds outstanding. Each $1,000 bond is convertible in...
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