Chapter 15 handout The Boiling Springs HS, 8% bonds of $100,000 issued on Jan. 1. 2019, are recalled at 104 on Dec. 31, 2021. The balance in the discount account at the time of the recall is $3,500. Record the journal entry for the recall of the bond. Date Credit Description Debit The Boiling Springs HS, 8% bonds of $100,000 issued on Jan. 1, 2019, are recalled at 105 on Dec. 31, 2021. The balance in the premium account at the time of the recall is $2,500. Record the journal entry for the recall of the bond. Date Description Debit Credit The ABC Corporation, 10% bonds of $100,000 issued on Jan. 1, 2019, are converted into 10,000 shares of common stock on Dec. 31, 2021. The stock has a par value of $5 and a market value of $38 at the time of the conversion. The balance in the premium account at the time of the recall is $2,900. Record the journal entry for the conversion of the bond. Date Description Debit Credit The XYZ Corporation, 10% bonds of $100,000 issued on Jan. 1. 2019, are converted into 30,000 shares of common stock on Dec. 31, 2021. The stock has a par value of $2 and a market value of $38 at the time of the conversion. The balance in the discount account at the time of the recall is $1,700. Record the journal entry for the conversion of the bond. Date Description Debit Credit