ASE 1 On December 31, 2020, MIS Co. issued 5,000 of its 8% 10-year P1,000 face value bonds with detachable warrants at 110. Each bond carried a detachable warrant for 10 ordinary shares of MIS Co.'s P100 par value at a specified option price of P120. Immediately after issuance, the market value of the bonds without warrants was P4,800,000 and the market value of the warrants ws P1,200,000. In December 31, 2020 statement of financial position, what amount should MIS report as bonds payable?