skysong corporation has outstanding 2200 of 1000 bonds each convertible into 60 shares of 10 par value common stock the bonds are converted on december 31 2025 when the unamortized discount is 21500 and the market price of the stock is $21 per share.
Record the conversion using the book value approach. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.)