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Janenda Inc. issued $5,000,000 of convertible 5-year bonds on July 1, 2014. The bonds provide...

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Accounting

Janenda Inc. issued $5,000,000 of convertible 5-year bonds on July 1, 2014. The bonds provide for 6% interest payable semiamuially on January 1 and July 1. The discount in connection with the issue was $120,000, which is being amortized monthly on a straight-line basis. The bonds are convertible after one year into 15 shares of Janenda Inc.

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