24. Preston Laird Company issued 5% bonds convertible into shares of the company's common stock. Preston Laird Company applies International Financial Reporting Standards. Upon issuance, Preston Laird Company should record a. the proceeds of the bond issue as part debt and part equity. b. the proceeds of the bond issue entirely as debt. c. the proceeds of the bond issue entirely as equity. d . the proceeds of the bond issue entirely as debt if the bonds are manditorily re- deemable