Randy corp. issued a 5%, $100,000. 5-year convertible bonds at $104,560 on January 1, 2019. The bonds could be converted into common shares at the rate of 5 shares for each $1,000 in face value at the option of the bondholders. Without the convertibility, the bonds would have been sold at $99,000

Prepare a journal entry for the issuance of the convertible bonds on Jan 1. 2019.