Hoffman Corporation issued $55 million of 8%, 10 year bonds at 102. Each of the 55,000 bonds was issued with 15 detachable stock warrants, each of which entitled the bondholder to purchase, for $22. one share of $1 par common stock. At the time of sale, the market value of the common stock was $27 per share and the market value of each warrant was $8. Prepare the journal entry to record the issuance of the bonds. (Enter your answers in millions rounded to 1 decimal place (le, 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.) View transaction ist Journal entry worksheet 1 Record the issuance of the bonds Note: Enter debit before credits Event General Journal Debit Credit 1