Redmond Company issued 4,000 of its $1,000 par value bonds for $1,480, providing total cash proceeds of $5,920,000. There are no bond issue costs. The market price of Redmond's common shares on the date that the bonds were issued was $65 per share. The bonds were sold with 100,000 warrants to acquire 100,000 shares of the company's $1 par value common stock for $75 per share. That is, each bond carries 25 warrants. Redmond has existing bonds outstanding that currently trade without warrants at $1,190. There are other Redmond warrants outstanding that trade for $60 each. Assume that the fair value of the bonds is more reliable than the market value of the warrants. Read the requirements. Requirement a. Prepare the journal entry to record issuance of the bonds assuming that the warrants are nondetachable. (Record debits first, then credits. Exclude explanations from any journal entries.) Account Cash Premium on Bonds Payable Bond Payable Date of Issue 5,920,000 1,920,000 4,000,000 Requirement b. Prepare the journal entry to record the issuance of the bonds assuming that the warrants are detachable using the proportional method. (Record debits first, then credits. Exclude explanations from any journal entries. Round any intermediary calculations to the nearest hundredth of a percent, XXX%. Round the amount you enter into the input cell to the nearest whole dollar.) Account Cash Discount on Bonds Payable Additional Paid-in Capital-Stock Warrants Bond Payable Date of issue 5,920,000 4,000,000 Choose from any list or enter any number in the input fields and then click Check Answer. ?