Show Attempt History Current Attempt in Progress Your answer is partially correct On January 1 , 2 0 2 5 , Vaughn Corporation issued $ 4 , 1 8 0 , 0 0 0 of 1 0 year, 8 convertible debentures at 1 0 2 Interest is to be paid semiannually on June 3 0 and December 3 1 Each $ 1 , 0 0 0 debenture can be converted into 8 shares of Vaughn Corporation $ 1 0 2 par value common stock after December 3 1 , 2 0 2 6 On January 1 , 2 0 2 7 , $ 4 1 8 , 0 0 0 of debentures are converted into common stock, which is then selling at $ 1 1 1 An additional $ 4 1 8 , 0 0 0 of debentures are converted on March 3 1 , 2 0 2 7 The market price of the common stock is then $ 1 1 6 Accrued interest at March 3 1 will be paid on the next interest date Bond premium is amortized on a straight line basis Make the necessary journal entries for a December 3 1 , 2 0 2 6 c March 3 1 , 2 0 2 7 b January 1 , 2 0 2 7 d June 3 0 , 2 0 2 7 Record the conversions using the book value method ( List all debit entries before credit entries Credit account titles are automatically indented when amount is entered Do not indent manually If no entry is required, select No Entry for the account titles and enter Ofor the amounts Round answers to 0 decimal places, e g 5 , 2 7 5 ) No Date Account Titles and Explanation Debit Credit Dec a 3 1 , Interest Expense 2 0 2 6 Question 6 of 9 1 2 9 1 5 No Date Account Titles and Explanation Debit Credit Dec a 3 1 , Interest Expense 1 6 3 0 2 0 2 0 2 6 Premium on Bonds Payable 4 1 8 0 Cash 1 6 7 2 0 0 b Jan 1 , Bonds Payable 4 1 8 0 0 0 Premium on Bonds Payable 6 6 8 8 Common Stock Paid in Capital in Excess of Par Common Stock 4 4 2 1 3 4 4 Mar c 3 1 , Interest Expense 8 1 5 1 Premium on Bonds Payable 2 0 9 Interest Payable 8 3 6 0 ( To record interest expense ) Mar 3 1 , Bonds Payable 2 0 2 7 ' Question 6 of 9 1 2 9 1 5 Mar c 3 1 , 2 0 2 7 Interest Expense 8 1 5 1 Premium on Bonds Payable Interest Payable 8 3 6 0 ( To record interest expense ) Mar 3 1 , Bonds Payable 4 1 8 0 0 0 2 0 2 7 Premium on Bonds Payable 6 4 7 9 Common Stock 3 3 4 4 Paid in Capital in Excess of Par Common Stock ( To record the conversion ) d Jun 3 0 2 0 2 7 Premium on Bonds Payable 3 3 4 4 Interest Payable 8 3 6 0 Cash 1 4 2 1 2 0 eTextbook and Media Assistance Used List of Accounts Show all images Show all images Show all images done loading

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Show Attempt History Current Attempt in Progress Your answer is partially correct  On January 1 , 2 0 2 5 , Vaughn Corporation issued $ 4 , 1 8 0 , 0 0 0 of 1 0   year, 8   convertible debentures at 1 0 2   Interest is to be paid semiannually on June 3 0 and December 3 1   Each $ 1 , 0 0 0 debenture can be converted into 8 shares of Vaughn Corporation $ 1 0 2 par value common stock after December 3 1 , 2 0 2 6   On January 1 , 2 0 2 7 , $ 4 1 8 , 0 0 0 of debentures are converted into common stock, which is then selling at $ 1 1 1   An additional $ 4 1 8 , 0 0 0 of debentures are converted on March 3 1 , 2 0 2 7   The market price of the common stock is then $ 1 1 6   Accrued interest at March 3 1 will be paid on the next interest date  Bond premium is amortized on a straight   line basis  Make the necessary journal entries for  a   December 3 1 , 2 0 2 6   c   March 3 1 , 2 0 2 7   b   January 1 , 2 0 2 7   d   June 3 0 , 2 0 2 7   Record the conversions using the book value method  ( List all debit entries before credit entries  Credit account titles are automatically indented when amount is entered  Do not indent manually  If no entry is required, select   No Entry  for the account titles and enter Ofor the amounts  Round answers to 0 decimal places, e   g   5 , 2 7 5   ) No   Date Account Titles and Explanation Debit Credit Dec  a   3 1 , Interest Expense 2 0 2 6 Question 6 of 9 1   2 9 1   5 No     Date Account Titles and Explanation Debit Credit Dec  a   3 1 , Interest Expense 1 6 3 0 2 0 2 0 2 6 Premium on Bonds Payable 4 1 8 0 Cash 1 6 7 2 0 0 b   Jan  1 , Bonds Payable 4 1 8 0 0 0 Premium on Bonds Payable 6 6 8 8 Common Stock Paid   in Capital in Excess of Par   Common Stock 4 4 2 1 3 4 4 Mar  c   3 1 , Interest Expense 8 1 5 1 Premium on Bonds Payable 2 0 9 Interest Payable 8 3 6 0 ( To record interest expense ) Mar  3 1 , Bonds Payable 2 0 2 7   ' Question 6 of 9 1   2 9   1   5 Mar  c   3 1 , 2 0 2 7 Interest Expense 8 1 5 1 Premium on Bonds Payable Interest Payable 8 3 6 0 ( To record interest expense ) Mar  3 1 , Bonds Payable 4 1 8 0 0 0 2 0 2 7 Premium on Bonds Payable 6 4 7 9 Common Stock 3 3 4 4 Paid   in Capital in Excess of Par   Common Stock ( To record the conversion ) d   Jun  3 0 2 0 2 7 Premium on Bonds Payable 3 3 4 4 Interest Payable 8 3 6 0 Cash 1 4 2 1 2 0 eTextbook and Media Assistance Used List of Accounts Show all images Show all images Show all images done loading

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Question: Show Attempt History Current Attempt in Progress Your answer is partially correct. On January 1 , 2 0 2 5 , Vaughn Corporation issued $

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