Swifty Corporation has $3810000 of 9% convertible bonds outstanding. Each $1,000 bond is convertible into 30 shares of $30 par value common stock. The bonds pay interest on January 31 and July 31. On July 31, 2021, the holders of $1270000 bonds exercised the conversion privilege. On that date the market price of the bonds was 104 and the market price of the common stock was $35. The total unamortized bond premium at the date of conversion was $276000. Swifty should record, as a result of this conversion, a O credit of $218080 to Paid-in Capital in Excess of Par. O credit of $88320 to Premium on Bonds Payable. O loss of $12700. O credit of $192480 to Paid-in Capital in Excess of Par