On January 1, 2020, Pharoah Corp. issued $1,130,000 of five-year, zero-interest-bearing notes along with warrants to buy 1,050,000 common shares at $22 per share. On January 1, 2020, Pharoah had 9.3 million common shares outstanding and the market price was $21 per share. Pharoah Corp. received $1,050,000 for the notes and warrants. If offered alone, on January 1, 2020, the notes would have been issued to yield 10% to the creditor. Assume that the company follows IFRS. Prepare the journal entry to record the issuance of the zero interest-bearing notes and warrants for the cash consideration that was received. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to O decimal places, eg. 5,250) Date Account Titles and Explanation January 1, 2020 Debit Credit