Hoffman Corporation issued $50 million of 7%, 20-year bonds at 104. Each of the 50,000 bonds was convertible into one share of $1 par common stock. Prepare the journal entry to record the issuance of the bonds. (Enter your answers in millions rounded to 1 decimal place (i.e., 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.) X Answer is not complete. No Event General Journal Debit Credit 1 1 Cash 52.0 2.0 x Discount on bonds payable Convertible bonds payable Common stock 50.0 4.0