on January 1, $396,000 of par value bonds with a carrying value of $430,000 is converted to 66,000 shares of $5 par value common stock. The entry to record the conversion of the bonds includes all of the following entries except:

Multiple Choice

Debit to Bonds Payable $430,000.

Debit to Premium on Bonds Payable $34,000.

Credit to Common Stock $330,000.

Credit to Paid-In Capital in Excess of Par Value, Common Stock $100,000.

Debit to Bonds Payable $396,000.