On January 1, the $3.000.000 par value bonds of Spitz Company with a carrying value of $3,000,000 are converted to 1,000,000 shares of $1 par value common stock. Record the entry for the conversion of the bonds. Ipped View transaction list Journal entry worksheet Record the retirement of bonds by stock conversion. Note: Enter debits before credits Date General Journal Debit Credit References Jan 01 Record entry Clear entry View general joumal Tune here to search