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Show necessary journal entries to record

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Question - On December 31, 2017, the balance of bonds payable as per the balance sheet amounted to 4,000,000. On January 1, 2018, $1,600,000 of these bonds were converted into common stock. The related unamortised bond premium on that date amounted to $200,000. Each bond was convertible into 25 shares of $10 par value common stock.

Show necessary journal entries to record the above.

Reference no: EM132430321

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