On July 1, 2021, 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 A. no change in paid-in capital in excess of par.
B. a $9,000 increase in paid-in capital in excess of par.
C. a $18,000 increase in paid-in capital in excess of par.
D. a $12,000 increase in paid-in capital in excess of par.