If Sixty $1000 Convertible Bonds with a Carrying Value of $70000

If sixty $1000 convertible bonds with a carrying value of $70000 are converted into 9000 shares of $5 par value common stock the journal entry to record the conversion is a.
$\begin{array}{llr} \text { Bonds Payable } &70,000\\ \text { Common Stock } &&70,000\\\end{array}$

b.
$\begin{array}{llr} \text { Bonds Payable } &60,000\\ \text { Premium on Bonds Payable } &10,000\\ \text {Common Stock } &&70,000\end{array}$

c.
$\begin{array}{llr} \text { Bonds Payable} &60,000\\ \text { Premium on Bonds Payable } &10,000\\ \text { Common Stock } &&45,000\\ \text { Paid-in Capital in Excess of Par } &&25,000\end{array}$

d.
$\begin{array}{llr} \text { Bonds Payable } &70,000\\ \text { Discount on Bonds Payable} &&10,000\\ \text { Common Stock } &&45,000\\ \text { Paid-in Capital in Excess of Par} &&15,000\end{array}$