Compute the amount of cash received by MVC on the date of issuance. Cat's Eye, Inc, owes Brusters, Inc. $45,000 on a note payable, plus $3, 250 interest. Buster's agrees to accept 1,000 shares of Cat's Eye common stock in full settlement of the debt. The stock has a par value of $5 per share and a current market value of $45 a share. Record the journal entry in good format for this debt restructuring on the books of Cat's Eye. Daniel Company had 30,000 shares of common stock outstanding on January 1 and issued an additional 9,000 on August 1 of 2016. The company also has $100,000 of 8% convertible bonds outstanding during the year. Each $1,000 bond is convertible into 5 shares of common stock. Daniel had after-tax net income for the year of $160,000, and the tax rate was 30%