Hoffman Corporation issued $70 million of 5%, 15-year bonds at 102. Each of the 70,000 bonds was convertible into one share of $1 par common stock. Prepare the journal entry to record the issuance of the bonds. Note: 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. View transaction list Journal entry worksheet 1 Record the issuance of the bonds. Note: Enter debits before credits. Event 1 General Journal Debit Credit 7 Record entry Clear entry View general journal