Bondholders of Balm Co. converted their bonds into 90,000 shares of $5 par value common...
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Accounting
Bondholders of Balm Co. converted their bonds into 90,000 shares of $5 par value common stock. In Balm's accounting records, the bonds had a face value of $775,000 and unamortized discount of $23,000 at the time of conversion. What amount of additional paid-in capital from the conversion should Balm record?
Select one:
a. $325,000
b. $348,000
c. $302,000
d. $798,000
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