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.
(1)Provide the entries required to record the issuance and retirement of the bonds.
(2)Assuming that each $1,000 bond is convertible into eight shares of Ruben Products' $120 par common stock (with market value of $130),provide the entries on June 30,2015,for the two methods that may be used to record a conversion rather than a retirement of $150,000 of bonds.

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The Answer of 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.
(1)Provide the entries required to record the issuance and retirement of the bonds.
(2)Assuming that each $1,000 bond is convertible into eight shares of Ruben Products' $120 par common stock (with market value of $130),provide the entries on June 30,2015,for the two methods that may be used to record a conversion rather than a retirement of $150,000 of bonds.

On January 1,2013,Ruben Products Issued Ten-Year Convertible Bonds of $1,800,000