We have convertible notes being converted to equity and would like to know how to record the conversion. I’ve searched the forum as well as the knowledge base, but no luck. Apologies in advance if this is a daft question since I’m not an accountant.
Is it simply debiting the loan and accrued interest accounts and credit the share capital account?
I’m not an accountant however have a look at Convertible Loan note | AccountingWEB where many accountants discuss all sorts of topics. To be able read more than one article you would need to create an account with AccountingWEB.