Price Corporation has outstanding 2,000, $1,000 bonds, each convertible into 50 shares of $15 par value common stock. the unamortized discount is $20,000 and the market price of the stock is $21 per share. Price wanted to reduce its annual interest cost and agreed to pay the bondholders $50,000 to convert. Prepare the entry to record the conversion of the bonds. Select one: O a. Debit-Bonds Payable $2.000.000 Credit- Discount on BP 20.000: Common Stock 1.500.000: PIC-Common Stock $480,000 O b. Debit-Bonds Payable $2.000.000: Debt Conversion Expense $50,000 Credit Discount on BP 20,000: Common Stock 1.500.000: PIC-Common Stock $480,000; Cash $50.000 Oc Debit-Bonds Payable $2.000.000: Commission Expense $50,000 Credit- Discount on BP 20,000: Common Stock 1,500,000: PIC-Common Stock $480.000: Cash $50,000 Od. Debit Bonds Payable $2,000,000: Deferred Bond Issue Expense $50,000 Credit-Discount on BP 20,000: Common Stock 1,500,000: PIC-Common Stock $480,000: Cash $50,000