During 2022, its first year of operations as a delivery service, Concord Corporation entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $181,000 in cash. 2. Borrowed $54,000 by issuing bonds. 3. 4. 5. 6. 7. 8. 9. Purchased delivery trucks for $60,000 cash. Received $17,000 from customers for services performed. Purchased supplies for $5,800 on account. Paid rent of $4,800. Performed services on account for $11,000. Paid salaries of $29,300. Paid a dividend of $10,700 to shareholders.

For each of the unrelated situations described below, prepare the entries required to record the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) 1. On August 1, 2023, Sarasota Corporation called its 11% convertible bonds for conversion. The $4,000,000 par value bonds were converted into 160,000 no par common shares. On August 1, there was $351,000 of unamortized premium applicable to the bonds. At the time of issuance, Contributed Surplus-Conversion Rights was credited for $142,000, which represented the equity portion of the convertible bonds, and the market value of the common shares was $21 per share. The company records the conversion using the book value method. Ignore all interest payments. 2. Marigold Inc. issues 11% convertible bonds, par $1,000,000, at 97. The investment…

18.The revolving credit can be revolved in relation to A. time B. value C. time and value D. time or value