On August 1, 2022, United Corporation issued $10.80 million of 10% bonds at 104. The bonds mature in 20 years. Each $1,000 bond was issued with 25 detachable stock warrants, each of which entitled the bondholder to purchase, for $58, one shore of United $5 par common stock, World Company purchased 15% of the bond issue. On August 1, 2022, the market value per share for United stock was $64 and the market value of each warrant was $5. In March 2028, when United common stock had a market price of $78 per share and the unamortized premium balance was $380,000, World exercised the warrants it held Required: 1. Prepare the journal entries on August 1, 2022, 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 2028 to record the exercise of the warrants. Complete this question by entering your answers in the tabs below. Required Required 2 Prepare the journal entries on August 1, 2022, to record (A) the issuance of the bonds by United and (b) the investment 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.) View transaction list View journal entry worksheet No Transaction Debit Credit (A) General Journal Cash Discount on bonds payable Bonds payable Investment in stock warrants Investment in bonds Discount on bond investment Cash Required 2 On August 1, 2022, United Corporation issued $10.80 milion of 10% bonds at 104. The bonds mature in 20 years. Each $1,000 bond was issued with 25 detachable stock warrants, each of which entitled the bondholder to purchase, for $58. one share of United $5 par common stock. World Company purchased 15% of the bond issue. On August 1, 2022, the market value per share for United stock was $64 and the market value of each warrant was $5. In March 2028, when United common stock had a market price of $78 per share and the unamortized premium balance was $380,000, World exercised the warrants it held Required: 1. Prepare the journal entries on August 1, 2022, 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 2028 to record the exercise of the warrants. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entries for both companies in March 2028 to record the exercise of the warrants. (If no entry is required for a transaction/event, select "No journal entry required in the first account rield. Enter your answers in whole dollars.) View transaction list View journal entry worksheet No Transaction General Journal Debit Credit Cash Paid-in capital-stock warrants outstanding Common slock Paid in capital in excess of par Investment in common stock Investment in stock warrants Cash