On January 1, the $6,450,000 par value bonds of Spitz Company with a carrying value of $6,450,000 are converted to 2,150,000 shares of $1 par value common stock Record the entry for the conversion of the bonds. View transaction lit Journal entry worksheet Record the retirement of bonds by stock conversion. Note: Enter debits before credits. General Journal Debit Credit Date Jan 01 Record entry Clear entry View general Journal