(Answered) On july 1 2010 an interest payment date 60000 of ree co

Economics

On July 1, 2010, an interest payment date, $60,000 of REE Co. bonds were converted into 1,200 shares of REE Co. common stock each having a par value of $45 and a market value of $54. There is $2,400 an amortized discount on the bonds. Using the book value method, REE would record.

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