journal entries on January 1 2009, Roller Coaster Extreme Corporation issued $4,000,000 of 10 year 3% convertible bonds at 102. interest is…

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journal entries on January 1 2009, Roller Coaster Extreme Corporation issued $4,000,000 of 10 year 3% convertible bonds at 102. interest is paid semiannually on June 30th and December 31st each year. Each $1,000 of bonds can be converted into 12 shares of $20 par value common stock after December 31, 2011. on January 1, 2012, $1,200,000 of bonds are converted into common stock. An additional $840,000 of bonds are converted into common stock on June 1, 2012. at the time of conversion, any accrued interest on bonds being converted is paid in cash. Bond premium is amortized on a straight line basis. prepare journal entries for each of the following dates. a. Dec. 31, 2011 including closing entries for end of year b. Jan. 1, 2012 c. Jun. 1, 2012 d. Jun. 30, 2012 e. Dec. 31, 2012 including closing entries for end of year

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