Lawson Equipment Company issued 300 of 8-year, 14% convertible bonds for $331,200. Each bond had a par value of $1,000. Each $1,000 bond converts into five shares of $1 par value common stock at the option of the bondholder beginning 2 years after the date of issue. The market price of the common stock on the commitment date was equal to $110 per share, and the market rate of interest was 14% at issuance. Prepare the journal entry to record the bond conversion assuming Lawson Equipment Company is an IFRS reporter. (Record debits first, then credits. Exclude explanations from any journal entries.) CE Account Date of Conversion