I need help with requirement 2.

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Cannect \L-BUS 272: CHAPTER, NO x C Secure | http:// Check my work mode: This shows whet is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question On August 1, 2019, United Corporation issued $10 million of 8% bonds at 105. The bonds mature in 20 years. Each $1,000 bond was issued with 20 detachable stock warrants, each of which entitled the bondholder to purchase, for $50, one share of United $5 par common stock. World Company purchased 10% of the bond issue. On August 1, 2019the market value per share for United stock was $56 and the market value of each warrant was S6. In March 2025, when United common stock had a market price of $70 per share and the unamortized premium balance was $300,000, World exercised the warrants it held. Required: 1. Prepare the journal entries on August 1, 2019, to record (A) the issuance of the bonds by United and (B) the investment by World. 2. Prepare the journal entries for both companies in March 2025 to record the exercise of the warrants. Answer is not complete. Complete this question by entering your answers in the tabs below Required 1 Required 2 Prepare the journal entries on August 1, 2019, to recard (A) the issuance af the bonds by United and (B) the investrment by world. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) No Transaction General Journal Debit Credit 10,500,000 700,000 Cash Discount on bonds payable 10 000 000 Bonds payable Equity- stock warrants 1 200 000 120.000 1,000,000 Investment in stock warrants Investment in bonds 1 050 000 ? 70,000 Cash Discount on bonds payable 004 AM Type here to search