Issued $3 million of 10% nonconvertible bonds at 104. The bonds are de on July 31, 2041. Each $1,000 bond was issued with 20 detachable stock warrants, each of which etitled the bondholder to purchase, for $60, one share of no par common stock. The market value of the common stock was $58 per share and the market value of stock warrant was $8.
What are the journal entries?
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Issued $3 million of 10% nonconvertible bonds at 104. The bonds are de on July 31, 2041. Each $1,000...
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