Sunland Corporation has outstanding 2,200 of $1,000 bonds, each convertible into 50 shares of $10...

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Accounting

Sunland Corporation has outstanding 2,200 of $1,000 bonds, each convertible into 50 shares of $10 par value common stock. The bonds are converted on December 31,2025, when the unamortized discount is $34,400 and the market price of the stock is $21 per share.
Record the conversion using the book value approach. (List all debit entries before credit entries. Credit account titles are automatically
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