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10. QRST Corp sold a convertible bond a few years ago, with face...

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Accounting

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10. QRST Corp sold a convertible bond a few years ago, with face value $200,000. It currently has a bond premium balance of $12,000. The bondholder decides to exercise her conversion rights by converting the entire bond for 8,000 shares of common stock (par value $1, stock price $30). Show the journal entry for this conversion.

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