Current Attempt in Progress Monty Services Inc. issued 900 $ 3 convertible preferred shares at $ 60 and 5,400 common shares at $ 20 each in 2019. Each preferred share is convertible into three common shares. On March 15, 2020, preferred shareholders converted 240 preferred shares into common shares. Record the conversion. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit