On April 7, 2017, Soweto Corp. sold a $1,000,000 (par value), 20 year, 8% bond issue for $1,060,000. Each $1,000 bond has two detachable warrants. Each warrant permits the purchase one of Soweto's no par value common shares for $30. At the time of the sale, Soweto's securities had the following market values:

Each $1,000 bond without warrants $1,006

Warrants $21

Common shares $27

Assuming that Soweto adheres to IFRS, what entry should the corporation make to record the sale of the bonds?

Entry field with incorrect answer

Cash...............................................................

1,060,000

Bonds Payable......................................... 1,018,000

Cash...............................................................

1,060,000

Bonds Payable......................................... 1,006,000

Contributed SurplusStock Warrants...... 54,000

Cash...............................................................

1,060,000

Bonds Payable......................................... 1,000,000

Contributed SurplusStock Warrants...... 60,000

Cash...............................................................

1,060,000

Bonds Payable......................................... 1,018,000

Contributed SurplusStock Warrants...... 42,000