Question

the xyz corporation 10% bonds of $100000 issued on jan. 1. 2016 are converted into 10000 shares of common stock on dec.31.2017 the stock has a par value of $5 and market value of $38 at the time of conversion the Balance in the premium account at the time of recall is$2900 record journal entry for the conversation of the bond

Answer 1

I am in 9nth standard ask me questions to my standard