Question: Please make the response detailed, explanative, and easy to read Recording the Issuance of Convertible Bonds Stonewall Corporation issued $20,000 of 5%, 10-year convertible bonds.

Please make the response detailed, explanative, and easy to read

Recording the Issuance of Convertible Bonds

Stonewall Corporation issued $20,000 of 5%, 10-year convertible bonds. Each $1,000 bond is convertible to 10 shares of common stock (par $50) of Stonewall Corporation. The bonds were sold at 105 on January 1, 2020. Provide the entry for Stonewall Corporation on January 1, 2020, to record the issuance of the bonds.

Please make the response detailed, explanative, and easy to read Recording the

Note: List multiple debits or credits (when applicable) in alphabetical order. Dr. Cr. - 0 x O Date Account Name Jan. 1, 2020 Cash Bonds Payable Premium on Bonds Payable 0 OX > O 0 x

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