Question: Yuen Corp. has outstanding 2 , 0 0 0 , $ 1 , 0 0 0 bonds, each convertible into 5 0 shares of $

Yuen Corp. has outstanding 2,000, $1,000 bonds, each convertible into 50 shares of $10 par value common stock. The bonds are converted on December 31,2012, when the unamortized discount is $30,000 and the market price of the stock is $21 per share.
Required: record the Journal entry at conversion of the bonds:

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