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.) Answer is complete but not entirely correct. No Event 1 General Journal Cash Discount on bonds payable Bonds payable Equity-stock warrants Debit Credit 5,610,000,000 5,500,000.0 5,500,000.0 6.600,000.0