Multiple Choice
A company has $900,000 in bonds payable with an unamortized discount of $21,000. If two-thirds of the bonds are converted to common stock, the carrying value of the bonds payable will decrease by
A) $293,000.
B) $586,000.
C) $614,000.
D) $628,000.
Correct Answer:
Verified
Correct Answer:
Verified
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