On July 1, 2021, an interest payment date, $153000 of Oriole Company bonds were converted into 3070 shares of Oriole Company common stock each having a par value of $45 and a market value of $54. There is $5900 unamortized discount on the bonds. Using the book value method, Using the book value method, Parks would record: a. a $18680 increase in paid-in capital in excess of par.
b. a $12780 increase in paid-in capital in excess of par.
c. a $8950 increase in paid-in capital in excess of par.