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16 May, 22:14

If bonds with a face value of $132000 are converted into common stock when the carrying value of the bonds is $124000, the entry to record the conversion will include a debit to

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  1. 17 May, 01:48
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    A debit to Bonds Payable for $132,000

    Explanation:

    This is because The face value or face amount of a bond payable is the amount printed on the bond. We always record Bond Payable as the amount we have to pay back which is the face value or principal amount of the bond.
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