On July 1, Salem Corporation issued $600,000 of 7% bonds due in 10 years. The bonds pay cash interest semiannually. Each $1,000 bond includes a detachable stock purchase warrant. Each warrant gives the bondholder the right to purchase, for $30, one share of $1 par value common stock at any time during the next 10 years. The bonds were sold at 101. The value of the stock purchase warrants at the time of issuance was $30,000. The bonds would sell without warrants at $ $582,000. a. Record the entry for issuance of bonds using the proportional method. Note: Carry all decimals in calculations, round the final answer to the nearest dollar. Debit Credit 0 0 X 0 0 X Date Account Name July 1 Cash Discount on Bonds Payable Bonds Payable Paid-in Capital-Stock Warrants To record bond issuance OOOO 0.X 0 X b. Record the entry for issuance of bonds assuming instead that the warrants are not detachable. Debit Credit 0 0X Date Account Name July 1 Cash Premium on Bonds Payable Bonds Payable To record bond issuance OX OOO + 0 Cash Inventory Equipment Land Deferred Revenue Bonds Payable Discount on Bonds Payable Discount and Debt Issuance Costs Premium on Bonds Payable Fair Value Adjustment-Bonds Payable Note Payable Discount on Note Payable Premium on Note Payable Fair Value Adjustment-Note Payable Interest Payable Common Stock Paid-in Capital in Excess of Par-Common Stock Paid-in CapitalStock Warrants Retained Earnings-Prior Period Adjustment Debt Conversion Expense Interest Expense C Loss on Redemption of Bonds Gain on Redemption of Bonds Unrealized Gain or Loss-Income Unrealized Gain or Loss-OCI h