Suppose Google, Inc. called its convertible debt in $2017.$ Assume the following related to the transaction. The $8\%,$$$4,300,000$ par value bonds were converted into $537,500$ shares of $$1$ par value common stock on July $1,2017.$ On July $1,$ there was $$25,000$ of unamortized discount applicable to the bonds, and the company paid an additional $$34,000$ to the bondholders to induce conversion of all the bonds. The company records the conversion using the book value method. $($Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Account Titles and Explanation

Debit

Credit

Prepare the entry$($ies$)$ required