Question: Whispering Inc. issued $ 4 , 7 8 0 , 0 0 0 par value, 7 % convertible bonds at 9 5 for cash. If

Whispering Inc. issued $

4, 780, 000

par value,

7 %

convertible bonds at

95

for cash. If the bonds had not included the conversion feature, they would have sold for

95 .

Prepare the journal entry to record the issuance of the bonds.

(

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

0

for the amounts.

)

Account Titles and Explanation

Debit

Credit

Whispering Inc. issued $4,780,000 par value, 7% convertible bonds at 95

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