Cullumber Corporation issued 1,500, ten year, 6% bonds for 102 on January 1, 2020. Interest is paid annually. Each $500 bond carried a detachable warrant allowing the holder to purchase 200 common shares in Cullumber at $7 per share, the price at which Cullumber shares were trading on the day of the sale of the bonds. Similar straight bonds trading on the open market paid 7%. On June 30, 2020, 150 of the bond holders exercised the options to buy the shares. Prepare the journal entries to record these events