Record the conversion using the book value approach

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Question - Swifty Corporation has outstanding 1,700 $1,000 bonds, each convertible into 70 shares of $10 par value common stock. The bonds are converted on December 31, 2017, when the unamortized discount is $26,900 and the market price of the stock is $21 per share.

Record the conversion using the book value approach.

Reference no: EM131578118

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Record the conversion using the book value approach : Swifty Corporation has outstanding 1,700 $1,000 bonds, Record the conversion using the book value approach
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