On July $1,2019,$ Salem Corporation issued $$3$ million of $12\%$ bonds payable in $10$ years. The bonds pay interest semiannually. The bonds include detachable warrants giving the bondholder the right to purchase for $$30,$ one share of $$1$ par value common stock at any time during the next $10$ years. Salem sold the bonds for $$3$ million. The value of the warrants at the time of issuance was $$200,000.$

Required:

Prepare in general journal format the entry to record the issuance of the bonds.