On july 1, 2018, an interest payment date, $150,000 of parks co. bonds were converted into 3,000 shares of parks co. common stock each having a par value of $45 and a market value of $54. there is $6,000 unamortized discount on the bonds. using the book value method, parks would record:

bonds payable   150,000 debit

         discount on BP            6,000 credit

         common stock         135,000 credit

         additional paid-in        9,000 credit

--to record conversion of bonds into share--

Explanation:

We compare the carrying value of the bonds with the book value of the shares:

150,000 bonds converted into 3,000 shares

value of the bonds: 150,000 - 6,000 discount = 144,000

BOOK value of the common       3,000 x 45   =  135,000

                                         additional paid-in          9,000

answer; i believe the correct answer is (75 years);

88 because 4 plus 4 equals 8. 40 plus 40 equals 80. 80 plus 8 equals 88