1. Lauren, Inc. issues $7,000,000 of bonds with a coupon rate of 8%. To help the sale, detachable stock warrants are issued at the rate of ten warrants for each $1.000 bond sold. It is estimated that the value of the bonds without the warrants is $6,850,000 and the value of the warrants is $425,000. The bonds with the warrants sold at $7,150,000. Required: Prepare the journal entry Lauren, Inc. should make to record the bonds