Sheridan Inc. issued $3,730,000of9%, 10-year convertible bonds on June 1, 2017, at99plus accrued interest. The bonds were dated April 1, 2017, with interest payable April 1 and October 1. Bond discount is amortized semiannually on a straight-line basis.

On April 1, 2018, $1,398,750of these bonds were converted into30,000shares of $20par value common stock. Accrued interest was paid in cash at the time of conversion.

Prepare the entry to record the conversion on April 1, 2018. (Book value method is used.) Assume that the entry to record amortization of the bond discount and interest payment has been made.

Bonds Payable 1398750

Discounts On Bonds Payable Please Provide how to find this

Common Stock 600000

Paid in Excess of Par I can find this once I know how to find the discount