Brief Exercise 16-1s Your answer is partially correct. Try again. Wildhorse Capital Ltd. issued 540 $1,000 bonds at 103. Each bond was issued with 10 detachable stock warrants. After issuance, similar bonds were sold at 97, and the warrants had a fair value of $2.50. Assume that Wildhorse Capital Ltd. follows ASPE and recorded the issuance of the bonds and warrants accordingly. On a date when the bonds had a carrying value of $489,500 and fair value of $492,340, Wildhorse paid $538,000 in cash to the bondholders to retire the bonds early. Record the retirement using the book value method. Credit account titles are automatica required, select "No Entry" for the account titles and enter 0 for the amounts.) inden ed when the amounts entered. Dont a ent manuafno entry s Account Titles and Explanation Debit Credit Contributed Surplus-Stock Options Bonds Payable 538000 Compensation Expense Common Shares Cash Brief Exercise 16-1s Your answer is partially correct. Try again. Wildhorse Capital Ltd. issued 540 $1,000 bonds at 103. Each bond was issued with 10 detachable stock warrants. After issuance, similar bonds were sold at 97, and the warrants had a fair value of $2.50. Assume that Wildhorse Capital Ltd. follows ASPE and recorded the issuance of the bonds and warrants accordingly. On a date when the bonds had a carrying value of $489,500 and fair value of $492,340, Wildhorse paid $538,000 in cash to the bondholders to retire the bonds early. Record the retirement using the book value method. Credit account titles are automatica required, select "No Entry" for the account titles and enter 0 for the amounts.) inden ed when the amounts entered. Dont a ent manuafno entry s Account Titles and Explanation Debit Credit Contributed Surplus-Stock Options Bonds Payable 538000 Compensation Expense Common Shares Cash