Siena sold $120,000 of 6% bonds for $127,125. Each $1,000 bond carried ten warrants and each warrant allowed the holder to acquire one share of $5 par common stock for $25 a share. After the issuance of the securities, the bonds were quoted at 108 and the warrants were quoted at $12. Later, one-fourth of the rights were exercised. Journalize the exercise of the warrants