on January 1, $396,000 of par value bonds with a carrying value of $430,000 is...
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Accounting
on January 1, $396,000 of par value bonds with a carrying value of $430,000 is converted to 66,000 shares of $5 par value common stock. The entry to record the conversion of the bonds includes all of the following entries except:
Multiple Choice
Debit to Bonds Payable $430,000.
Debit to Premium on Bonds Payable $34,000.
Credit to Common Stock $330,000.
Credit to Paid-In Capital in Excess of Par Value, Common Stock $100,000.
Debit to Bonds Payable $396,000.
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