Question 16 (2.5 points) On January 1, $400,000 par value bonds of Martin Company with a carrying value of $400,000 are converted to 10,000 shares of $1 par value common stock. The journal entry to record the conversion includes a: debit to Paid-in Capital in Excess of Par for $400,000. debit to Paid-in Capital in Excess of Par for $390,000. O credit to Paid-in Capital in Excess of Par for $390,000. O credit to Paid-in Capital in Excess of Par for $400,000