Shamrock Corporation is a regional company which is an SEC registrant. The corporation's securities are thinly traded on NASDAQ (National Association of Securities Dealers Quotes). Shamrock Corp. has issued 10,000 units. Each unit consists of a $500 par, 12% subordinated debenture and 10 shares of $5 par common stock. The units were sold to outside investors for cash at $835 per unit. Prior to this sale the 2-week ask price of common stock was $40 per share. Twelve percent is a reasonable market yield for the debentures, and therefore the par value of the bonds is equal to the fair value. (a) Prepare the journal entry to record Shamrock' transaction, under the following conditions: (Round answers to O decimal ploce, eg. 38,487. 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.) (1) Employing the incremental method. (2) Employing the proportional method, assuming the recent price quotes on the common stock reflects fair value. No. Account Titles and Explanation 1. Cish Unamartized Bond tssue Costs: Bonds Perable Paid-in Capital in Excess of Pat - Conimont Stock 2. cash Unamortized Bond tssue Costs \begin{tabular}{|r|} \hline 8160000 \\ \hline \end{tabular} Bonds Payable 5000000 Paid in Capital in Exress of Par-Common Stock Paid in Capital in Excess of Par - Common Stock 5000000