On January 1,2013,Ruben Products issued ten-year convertible bonds of $1,800,000 at 105.Interest is payable semiannually on June 30 and December 31 at a rate of 12 percent.On June 30,2015,the company retired bonds of $150,000 at 102 plus accrued interest.Straight-line amortization is recorded at the end of the calendar year.

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