On May 1, 2020, ABC Ltd. issued $ 500,000, 10 year, 7% bonds at 103. Twenty detachable warrants were attached to each $ 1,000 bond, which entitled the holder to purchase one of ABC's no par value common shares for $ 40. At this time, similar bonds without warrants were selling at 96. It was determined that the fair value of ABC's common shares was $ 35, but the value of the warrants was NOT determinable. ABC is a private corporation that follows ASPE, but does NOT use the residual method. On May 1, 2020, ABC should credit Bonds Payable for