the ad mitchell company issued $8$ year bonds on january $1,2001.$ the debt has a face value of $$100,000($the face value of each bond is $$1000),$ and an annual stated interest rate of $6\%.$ interest payments are due semiannually beginning june $30,2001.$ the market interest rate on the bond is $8\%.$ mitchell company uses the straight$-$line amortization method to account for any discount or premium on the bond. the holder of the bonds has the option of converting each $$1,000$ bond into $15$ shares of mitchell company common stock $($par value $$2).$ on the day the bonds are sold, the mitchell company common stock is selling for $$52$ per share.

on february $1,2002,$ $$30,000($face value$)$ of bonds are converted into shares of mitchell company common stock. on that day, each share of mitchell company common stock was trading fr o$$72.$ what journal entries would mitchell company record on this day assuming it uses fair market balue method to account for the bond conversion?