On June 30, 2016, Blair Industries had outstanding $80 million of 8% convertible bonds that mature on June 30, 2017. Interest is payable each year on June 30 and December 31. The bonds are convertible into 6 million shares of $10 par common stock. At June 30, 2016, the unamortized balance in the discount on bonds payable account was $4 million. On June 30, 2016, half the bonds were converted when Blair's common stock had a market price of $30 per share. When recording the conversion, Blair should credit paid-in capital-excess of par: