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50 $1,000 bonds with a carrying value of $57,500 are converted into 5,000 shares of $4 par value common stock.

50 $1,000 bonds with a carrying value of $57,500 are converted into 5,000 shares of $4 par value common stock. The common stock had a market value of $20 per share on the date of conversion. The entry to record the conversion is:

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