Send to Gradebook Question 8 View Policies Current Attempt in Progress Pronghorn Corporation has outstanding 2,200 $1,000 bonds, each convertible into 50 shares of $10 par value common stock. The bonds are converted on December 31, 2020, when the unamortized discount is $34.400 and the market price of the stock is $21 per share. Record the conversion using the book value approach. (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 for the amounts) Account Titles and Explanation Debit Credit Bonds Payable Discount on Bonds Payable Common Stock Paid-in Capital in Excess of Par. Common Stock eTextbook and Media List of Accounts Attempts: unlimited Submit Answer Save for Later Last saved 1 second ago