On January 1, 2014, Wings Express Corp. issues 500 bonds with each bond coming with 10 detachable warrants. Each warrant gives the holder the option to buy one share of common stock (par value $1) at sometime in the future for $50. Each individual bond has a face value of $1,000 (total face value of $500,000 $500,000). The bonds (with the attached warrants) were issued for $515,000. Just after issuance, the bonds alone (i.e., without the warrants) were trading at 97 on the secondary market. At the same time, the warrants were trading separately on the secondary market for $8. Using the proportional method, prepare the journal entry to record the issuance of the bonds with detachable warrants.