Whispering Inc. issued $$4,780,000$ par value, $7\%$ convertible bonds at $95$ for cash. If the bonds had not included the conversion feature, they would have sold for $95.$

Prepare the journal entry to record the issuance of the bonds. $($List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Account Titles and Explanation

Debit

Credit