Freddy, Inc had outstanding 1 . percent, $1,000,000 face value, convertible bonds maturing on December 31 . 2017 . Interest is paid December 31 and June 30 . After amortization through June 30, 2014, the unamortized balance in the bond premium account was $30,000 . On that date, bonds with a face amount of $500,000 were converted into 20,000 shares of $20 par common stock. Recording the
conversion by using the carrying value of the bonds, Freddy should credit Additional Paid-In Capital for
a. $0.
b. $85,000.
c. $100,000.
d. $115,000.
D
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