Archer Company issued 4,000,000 par value, 7% convertible bonds at 99 for cash. The net present value
Question:
Archer Company issued £4,000,000 par value, 7% convertible bonds at 99 for cash. The net present value of the debt without the conversion feature is £3,800,000. Prepare the journal entry to record the issuance of the convertible bonds.
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Cash 4000000 99 396000...View the full answer
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Related Book For 
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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