I don't know how to get Premium Bond Payable for the following questions in order to get Paid in Capital which is a plug. If you can provide the detail break-down for the answer, I really appreciate it. Q. Fogel Co. has $4,000,000 of 8% 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 $1,280,000 bonds exercised the conversion privilege. On that date the market price of the bonds was 105 and the market price of the common stock was $36. The total unamortized bond premium at the date of conversion was $280,000. Fogel should record, as a result of this conversion, a Answer: credit of $217,600 to Paid-in Capital in Excess of Par. I got the following figures. dr: Bond Payable 1,280,000 dr: Premium on Bond Payable ?

cr: Common Stock 1,152,000 cr: Paid-in Capital in excess of Par - C/S ?