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Current Attempt in Progress

On June $30,2020,$ an interest payment date, $$1010000$ of Ayayai Co$.$ bonds were converted into $25100$ shares of Ayayai Co$.$ common stock each having a par value of $$5$ and a market value of $$54.$ There is $$350100$ unamortized discount on the bonds. Using the book value method, Ayayai would record

no change in paid$-$in capital in excess of par.

a $$138460$ increase in paid$-$in capital in excess of par.

a $$350100$ increase in paid$-$in capital in excess of par.

a $$534400$ increase in paid$-$in capital in excess of par.

Attempts: $0$ of $1$ used