On January 1, 2018, UTE Inc. issued $50 million of 10% nonconvertible bonds at 103. The bonds are due on December 31, 2027. Each $1,000 bond is issued with 15 detachable stock warrants, each of which entitles the bondholder to purchase, for $50, one share of UTEs no par common stock. Realized Gains Company purchased 10% of the bond issue. On January 1, the market value of the no par common stock was $50 per share and the market value of each warrant was $12.

Prepare the journal entry that UTE, Inc. would record on its books for the sale of the bond.