Convertible Bonds

Like Corporation issued (at a premium of $5,000) a $100,000 bond issue convertible into 2,000 shares of common stock (par value $20). These bonds were converted to common stock on January 2, 2016. At the time of the conversion, the unamortized premium is $2,000, the market value of the bonds is $110,000, and the stock is quoted on the market at $60 per share. to be recorded on the conversion of the bonds? Prepare the journal entry to record the conversion of the bonds to common stock.