Multiple Choice
On January 1, 2013, Angle Products issued $24,000 of ten-year bonds at 98. These bonds were each convertible into ten shares of $100 par common stock. On January 1, 2020, Angle converted two-thirds of these bonds when the common stock was selling at $130 a share. What would be the loss on bond conversion? 
A) I
B) II
C) III
D) IV
Correct Answer:
Verified
Correct Answer:
Verified
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