Computalog Inc. showed the following on its December 31, 2023, balance sheet: Bonds payable, convertible $4,020,000 Less: Unamortized discount 14,472 $4,005, 528 Required: 1. Assuming the bonds are convertible into 402,000 common shares, journalize the conversion on January 1, 2024, when the market value per common share was $10.25.
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![Computalog Inc. showed the following on its December 31, 2023, balance sheet:
Bonds payable, convertible $4,020,000
Less: Unamortized discount
14,472 $4, 005, 528
Required:
1. Assuming the bonds are convertible into 402,000 common shares, journalize the conversion on January 1, 2024, when the market
value per common share was $10.25.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9cda4929-35b8-4e19-98d5-4d2eea973676%2F777f44f4-f4ec-42cb-b451-7cecb95ff4db%2F9yntjen_processed.jpeg&w=3840&q=75)
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