A company issued $700,000 of 9%, ten-year convertible bonds on January 1, 2020 at 95, with interest payable July 1 and January 1.Bond discount/premium is amortized semiannually on a straight-line basis. On July 1, 2023, these bonds were converted into common stock. What should be the amount of the unamortized bond discount/premium on July 1, 2023 relating to the bonds converted?

Answer rating: 100% (QA)

WORKING NOTES Calculation of coupon amount and amortization of Discount per period Par Value o... View the full answer