Question: Question 2 Sixty $1,000 convertible bonds with a carrying value of $69,000 are converted into 9,000 shares of $5 par value common stock. The common

Question 2 Sixty $1,000 convertible bonds with a carrying value of

Question 2 Sixty $1,000 convertible bonds with a carrying value of $69,000 are converted into 9,000 shares of $5 par value common stock. The common stock had a market value of $9 per share on the date of conversion. Prepare the journal entry to record the conversion of the bond to common stock. B x, EE 7 A, TE 3. * ? x TT 12pt Paragraph

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