On June 30, Sarman issued $1,500,000 of 7% bonds which are due in 20 ywars. Twenty detachbalr stock warramds are attajced to each $1,000 bond. Each warramt entitles the holder to putchase one share of $15 par value common stock at an exercise price of $40 per share. On June 30. the fiar value of Sarman's common stokc was $35 per share and of the warrants was $4. Prepare the journal entry on June 30