On July 1, 2017, Juba Inc.issued 10,000, $7 non-cumulative, no par value preferred shares for $1,050,000.Attached to each share was one detachable warrant, giving the holder the right to purchase one of Juba's no par value common shares for $30.At this time, the shares without the warrants would normally sell for $1,025,000, while the market price of the warrants was $2.50 each.On October 31, 2017, when the market price of the common shares was $19 and the market value of the warrants was $3.00, 4,000 warrants were exercised.Juba adheres to IFRS.As a result of the exercise of the warrants and the issuance of the related common shares, what journal entry would Juba make?

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The Answer of On July 1, 2017, Juba Inc.issued 10,000, $7 non-cumulative, no par value preferred shares for $1,050,000.Attached to each share was one detachable warrant, giving the holder the right to purchase one of Juba's no par value common shares for $30.At this time, the shares without the warrants would normally sell for $1,025,000, while the market price of the warrants was $2.50 each.On October 31, 2017, when the market price of the common shares was $19 and the market value of the warrants was $3.00, 4,000 warrants were exercised.Juba adheres to IFRS.As a result of the exercise of the warrants and the issuance of the related common shares, what journal entry would Juba make?