On July 1,2019, Salem Corporation issued $2.8 milion of 10% bonds payable in 10 yoars. The bonds pay irterest semiannualy . The bonds include detachable warrants giving the bondholder the right to purchase for $28, one share of $1 par valuo common stock at ary time durirg the next 10 years. Salem sold the bonds for $2.8 milion. The value of the wartants at the time of issuance was $112,000. Required: Prepure in general poumal format the entry to record the issuance of the bonds. Prepare in general joumal format the entry to record the issuance of the bonds on July 1 . CHART OF ACCOUNTS Salem Corporation General Ledger Chart of Accounts 198 Accumulated Depreciation 512 Utilities Expense 521 Salaries Expense LIABILITIES 532 Bad Debt Expense 211 Accounts Payable 540 Interest Expense 225 Common Stock Warrants 541 Depreciation Expense 231 Salaries Payable 559 Miscellaneous Expenses 250 Unearned Revenue 910 Income Tax Expense 255 Bonds Payable 257 Discount on Bonds Payable 261 income Taxes Payable EQUITY 311 Common Stock 331 Retained Earnings