Packard, Inc. decides to issue convertible bonds instead of common stock. The company issues 10% convertible bonds,
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Question:
Packard, Inc. decides to issue convertible bonds instead of common stock. The company issues 10% convertible bonds, par $3,000,000, at 97. The investment banker indicates that if the bonds had not been convertible they would have sold at 94. Present the entry required to record the bond transactions.
Related Book For
Organizational Behavior Managing People and Organizations
ISBN: 978-1133626695
10th Edition
Authors: Ricky W. Griffin and Gregory Moorhead
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