Help Save& Exit Submit Check my work 3 Hoffman Corporation issued $55 million of 7%.5-year bonds at 104, Each of the 55,000 bonds was issued with 12 detachable stock warrants, each of which entitled the bondholder to purchase, for $24, one share of $1 par common stock. At the time of sale, the market value of the common stock was $29 per share and the market value of each warrant was $5. Prepare the journal entry to record the issuance of the bonds. (Enter your answers in millions rounded to 1 decimal place (l.. 5,500,000 should be entered as 5.5). If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) int Journal entry worksheet Record the issuance of the bonds. Note: Enter debits before credits. Credit Event Cash