Cullumber Limited had $2.92 million of bonds payable outstanding and the unamortized premium for these bonds amounted t $41,600. Each $1,000 bond was convertible into 20 preferred shares. All bonds were then converted into preferred shares. Th Contributed Surplus-Conversion Rights account had a balance of $21,900. Assume that the company follows IFRS. Your answer is partially correct. Assuming that the book value method was used, what entry would be made? (Credit account titles are automatically indented w the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Bonds Payable 2920000 Contributed Surplus - Stock Warrants 41600 Preferred Shares 2961600