on january 1, $362,400 of par value bonds with a carrying valueof $388,000 is converted to $60,400 shares of $5 par value commonstock. The entry to record the conversion of the bonds includes allof the following entries except:

a. Debit to Premium on Bonds Payable $25,600.

b. Debit to Bonds Payable $388,000.

c. Credit to Common Stock $302,000.

d. Credit to Paid-in Capital in Excess of Par Value, CommonStock $86,000.

e. Debit to Bonds Payable $362,400.