Comet Products prepares its financial statements according to International Financial Reporting Standards. On January 1 ,
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Comet Products prepares its financial statements according to International Financial Reporting Standards. On January Comet Products issued $ million of year convertible bonds at a net price or $ million. Comet recently issued similar, but nonconvertible bonds at that is of face amount The bonds pay interest on June and December Each $ bond is convertible into shares of Comet's no par common stock.
Comet records interest by the straight line method.
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