The Hui Corporation has $1 ,000,000 of 6 percent bonds outstanding. There is $20,000 of unamortized discount remaining on the bonds after the March 1, 20x2, semiannual interest payment. The bonds are convertible at the rate of 20 shares of $10 par value common stock for each $1,000 bond. On March 1, 20x2, bondholders presented

$600,000 of the bonds for conversion. Prepare the entry to record the conversion of the bonds. SE-1