Question: 15 and Question 2 If bonds with a face value of $128000 are converted into common stock when the carrying value of the bonds is

15 and Question 2 If bonds with a face value of $128000 are converted into common stock when the carrying value of the bonds is $121000, the entry to record the conversion will include a debit to Discount on Bonds Payable for $7000 Bonds Payable equal to the market price of the bonds on the date of conversion Bonds Payable for $128000. Bonds Payable for $121000

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