Evanston Manufacturing is faced with possible bankruptcy. Evanston has $2,000,000 bonds outstanding with an unamortized premium of $68,500. Furthermore, Evanston is behind $125,000 in interest payments. To satisfy the debt, Evanston transfers 60,000 shares of $10 par value stock with a current market value of $33.75 per share.
Prepare the journal entry, as of July 31, 2009, to record the equity transfer on Evanston's books.