On May 1, 2018, Sheffield Corp. issued $2300000 of 6% bonds at 103, which are due on April 30, 2028. Twenty detachable stock warrants entitling the holder to purchase for $40 one share of Sheffields common stock, $15 par value, were attached to each $1,000 bond. The bonds without the warrants would sell at 96. On May 1, 2018, the fair value of Sheffields common stock was $35 per share and of the warrants was $2. On May 1, 2018, Sheffield should record the bonds with a