Question: XYZ Inc is going through a reorganization and will do an exchange of its bonds after discussions with lenders. It currently has $501,185 of 10.01%

XYZ Inc is going through a reorganization and will do an exchange of its bonds after discussions with lenders. It currently has $501,185 of 10.01% first-mortgage bonds outstanding. These bonds will be exchanged for $334,121 of 6.03% first- mortgage bonds and 20,879 new common shares. In the journal entry to record this exchange, how much will be debited or credited to the Common Shares? a $158,711 b. $167,064 c. $150,358 d $154.534 e $162,887

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