Pilsen Company issues $12\%$ bonds with a face value of $$10,000$ and $600$ shares of $$10$ par common stock in a combined sale, receiving total proceeds of $$23,000$ on December $31.$

Required:

Record the transaction for each independent assumption shown:

$1.$ The common stock has a current market value of $$21$ per share; the market value of the bonds is not known.

$2.$ The common stock has a current market value of $$24\mathrm{.}50$ per share; the bonds are selling at $98.$