On January 1, $362,400 of par value bonds with a carrying value of $388,000 is converted to 60,400 shares of $5 par value common stock. The entry to record the conversion of the bonds includes all of the following entries except Multiple Choice N Debit to Bonds Payable $388,000. Debit to Premium on Bonds Payable $25,600. Credit to Common Stock $302,000 O Credit to Paid-in Capital in Excess of Par Value, Common Stock $86,000. Debit to Bonds Payable $362,400