Swifty Corporation has outstanding $1,900$ of $$1,000$ bonds, each convertible into $70$ shares of $$10$ par value common stock. The bonds

are converted on December $31,2025,$ when the unamortized discount is $$26,100$ and the market price of the stock is $$21$ per share.

Record the conversion using the book value approach. $($List all debit entries before credit entries. 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