Unformatted text preview: par value bonds were converted into 1,020,000 shares of $1 par value common stock on July 1, 2017. On July 1, there was $52,000 of unamortized discount applicable to the bonds, and the company paid an additional $73,000 to the bondholders to induce conversion of all the bonds. The company records the conversion using the book value method (Credit account titles are automatically in dented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) No. Account Titles and Explanation Credit Debit 1. 2. 3....
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- Spring '17