On July1, 2020, Star Company issued $100,000 par(100 bonds with $1000 par per bond) of 12%, 10-year bonds dated Dec 31at 102. Interest is payable semiannually on July 1 and Dec 31.Each $1,000 bond is convertible into 20 shares of common stock of par value of $50 per share. All bonds are converted into common stock on Dec 31, 2022.

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What entries would be made for above transactions, including bonds issuance and interest payment in 2020 and bonds conversion in 2022?

Answer rating: 100% (QA)

A X l00000 company Jousnal entnies in the books of starr Coedit Co Debitla Date Particalars 1000... View the full answer