QS 10-10 Bond retirement by stock conversion LO P4 On January 1, the $2,000,000 par value bonds of Spitz Company with a carrying value of $2,000,000 are converted to 1,000,000 shares of $1.00 par value common stock. Record the entry for the conversion of the bonds. View transaction list 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