On May 1, 2021. Sheridan Company issued $1580000 of 7% bonds at 104, which are due on April 30, 2031. Twenty detachable stock warrants entitling the holder to purchase for $40 one share of Sheridan's common stock. $15 par value, were attached to each $1,000 bond. The bonds without the warrants would sell at 95. On May 1, 2021, the fair value of Sheridan's common stock was $35 per share and of the warrants was $2. On May 1, 2021, Sheridan should credit Paid-in Capital from Stock Warrants for