Question $1$ of $5$

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On May $1,2023,$ Swifty Limited issued $1,920$ $$1,000$ bonds at $103.$ Each bond was issued with one detachable stock warrant. Shortly after issuance, the bonds were selling at $97,$ but the fair value of the warrants cannot be determined. Swifty follows IFRS.

$($a$)$

Prepare the entry to record the issuance of the bonds and warrants. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.$)$

Account Titles and Explanation

Debit

Credit

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