Business, 25.03.2020 05:08 dymari10p59xn8

Hill Co. has $5,000,000 of 9% convertible bonds outstanding. Each $1,000 bond is convertible into 30 shares of $30 par value common stock. The bonds pay interest on January 31 and July 31. On July 31, 2019, the holders of all the bonds exercised the conversion privilege. On that date, the market price of the bonds was 105 and the market price of the common stock was $36. The total unamortized bond premium at the date of conversion was $350,000.
Fogel should record, as a result of this conversion, a .

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Hill Co. has $5,000,000 of 9% convertible bonds outstanding. Each $1,000 bond is convertible into 30...

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