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What would the entries required be to record

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Question - On August 1, 2019, a public company Shaun Corporation called its 6.50% convertible bonds for conversion. The $3,000,000 par bonds were converted into 100,000 no-par common shares. On August 1, 2019 there was $50,000 of unamortized premium applicable to the bonds. At the time of issuance, Contributed Surplus-Conversion was credited for $75,000, which represented the equity portion of the convertible bonds. The fair market value of the common shares was $31 per share. The company records the conversion using the book value method. What would the entries required be to record the bond transaction?

Reference no: EM132823521

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