Thirty $1000 Bonds with a Carrying Value of $39600 Are

Thirty $1000 bonds with a carrying value of $39600 are converted into 4000 shares of $5 par value common stock. The common stock had a market value of $9 per share on the date of conversion. The entry to record the conversion is a.
$\begin{array}{llr} \text {Bonds Payable } &39,600\\ \text { Common Stock } &&20,000\\ \text { Paid-in Capital in Excess of Par } &&19,600\end{array}$

b.
$\begin{array}{llr} \text { Bonds Payable } &30,000\\ \text { Premium on Bonds Payable } &9,600\\ \text { Common Stock} &&30,000\\ \text { Paid-in Capital in Excess of Par } &&9,600\end{array}$

c.
$\begin{array}{llr} \text { Bonds Payable } &30,000\\ \text { Premium on Bonds Payable} &9,600\\ \text { Common Stock} &&20,000\\ \text { Paid-in Capital in Excess of Par } &&19,000\end{array}$

d.
$\begin{array}{llr} \text {Bonds Payable } &39,600\\ \text { Common Stock } &&36,000\\ \text { Paid-in Capital in Excess of Par} &&3,600\end{array}$