Practice Exercise 1 (Part Level Submission) Swisher Company issued $2,490,000 of bonds on January 1, 2017. (a) Your answer is correct. Prepare the journal entry to record the issuance of the bonds if they are issued at (1) 100, (2) 97, and (3) 104. (Credit ac No. Account Titles and Explanation Debit Credit (1) Cash 2490000 Bonds Payable 2490000 (2) Cash 2415300 Discount on Bonds Payable 74700 Bonds Payable 2490000 (3) Cash 2589600 Bonds Payable 2490000 Premium on Bonds Payable 99600 (d) Prepare the journal entry to record the conversion of the bonds into 59,800 shares of $10 par value common stock. Assume the bonds were issued at par. (C Account Titles and Explanation Debit Credit