On June 30, 2020, an interest payment date, $200,000 of Hawk Co. bonds were converted...
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Accounting
On June 30, 2020, an interest payment date, $200,000 of Hawk Co. bonds were converted into 5,000 shares of Hawk Co. common stock each having a par value of $38 and a market value of $44. There is $8,000 unamortized premium on the bonds. Using the book value method ,provide necessary journal entry at the time of conversion:
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