On July 1, 2021, Coronado Industries issued for $9450000 a total of 90000 shares of $100 par value, 8% noncumulative preferred stock along with one detachable warrant for each share issued. Each warrant contains a right to purchase one share of Coronado $10 par value common stock for $15 per share. The stock without the warrants would normally sell for $9329000. The market price of the rights on July 1, 2021, was $1.90 per right. On October 31, 2021, when the market price of the common stock was $18 per share and the market value of the rights was $2.20 per right, 36000 rights were exercised. As a result of the exercise of the 36000 rights and the Issuance of the related common stock, what journal entry would Coronado make? Cash Paid-in Capital-Stock Warrants Common Stock Paid-in Capital in Excess of Par 540000 68040 360000 248040 Cash 540000 Paid-in Capital-Stock Warrants 171000 Common Stock 360000 Paid-in Capital in Excess of Par 351000 0 Cash Common Stock Paid-in Capital in Excess of Par 540000 360000 180000 Cash 540000 Paid-in Capital-Stock Warrants 124020 Common Stock 360000 Paid-in Capital in Excess of Par 304020 Save for Later Attempts: 0 of 1 used Submit Answer