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Carla Corporation sold 160 convertible, 10-year bonds with face value $160,000. The bonds pay interest December 31 each year. Each bond pays 4% annual interest and each bond can be converted to ten common shares at the bondholders' request. The sale resulted in conversion rights of $23,553. On January 1, 2021, Carla offered the shareholders a price of 106 if they would agree to retire their bonds early. All of the bondholders agreed to retire their bonds early. At the time of the conversion, the market value of the bonds was $144,000 and the carrying value was $141,000. Prepare the journal entry to record the conversion of the bonds into common shares. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Practice Exercises Carla Corporation sold 150 convertible 10-year bonds with face value $160,000. The bonds pay interest December 1 each year Cach bond as an interest and each bond can be converted to be common shares at the bondholders' request. The sale resulted in conversion rights of $23.553. On January 1, 2021. Carta offered the shareholders a price of 105 if they would agree to retire their bonds early. All of the bandholders agreed to retire their bonds early. At the time of the conversion, the market value of the bonds was $340,000 and the carrying value was $141.000. Prepare the journal entry to record the conversion of the bonds into common shares. (Credit accounts r omically indented when the amount interd. Do not indent manually.) Dahir Carla Corporation sold 160 convertible, 10-year bonds with face value $160,000. The bonds pay interest December 31 each year. Each bond pays 4% annual interest and each bond can be converted to ten common shares at the bondholders' request. The sale resulted in conversion rights of $23,553. On January 1, 2021, Carla offered the shareholders a price of 106 if they would agree to retire their bonds early. All of the bondholders agreed to retire their bonds early. At the time of the conversion, the market value of the bonds was $144,000 and the carrying value was $141,000. Prepare the journal entry to record the conversion of the bonds into common shares. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Practice Exercises Carla Corporation sold 150 convertible 10-year bonds with face value $160,000. The bonds pay interest December 1 each year Cach bond as an interest and each bond can be converted to be common shares at the bondholders' request. The sale resulted in conversion rights of $23.553. On January 1, 2021. Carta offered the shareholders a price of 105 if they would agree to retire their bonds early. All of the bandholders agreed to retire their bonds early. At the time of the conversion, the market value of the bonds was $340,000 and the carrying value was $141.000. Prepare the journal entry to record the conversion of the bonds into common shares. (Credit accounts r omically indented when the amount interd. Do not indent manually.) Dahir

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