On May 1, 2008, Jacques Co. issued $2,500,000 of 7% bonds at 103, which are due on April 30, 2018. Ten detachable stock warrants were attached to each $1,000 bond. Each warrant entitles the holder to purchase one share of Jacques= no par value common shares at a price of $80. The bonds without the warrants would sell at 94. On May 1, 2008, the fair value of Jacques= common shares was $65 each. 8. On May 1, 2008, Jacques should credit Contributed Surplus from Stock Warrants for a. $200,000. d. $225,000. b. $15,000. e. None of the above but $ . c. $20,600. 9. On July 1, 2008, 40% of the warrant holders exchanged their warrants for shares in Jacques. Determine the amount which the company should transfer to Common Shares Account. a. Credit of $1,215,000. d. Credit of $1,025,000. b. Credit of $940,000. e. None of the above but $ . c. Credit of $890,000.