On September 1, 2020, Blue Company sold at 104 (plus accrued interest) 5,520 of its 8%, 10-year, $1,000 face value, nonc
Posted: Fri Jul 01, 2022 8:47 am
- On September 1 2020 Blue Company Sold At 104 Plus Accrued Interest 5 520 Of Its 8 10 Year 1 000 Face Value Nonc 1 (30.11 KiB) Viewed 42 times
On September 1, 2020, Blue Company sold at 104 (plus accrued interest) 5,520 of its 8%, 10-year, $1,000 face value, nonconvertible bonds with detachable stock warrants. Each bond carried two detachable warrants. Each warrant was for one share of common stock at a specified option price of $16 per share. Shortly after issuance, the warrants were quoted on the market for $3 each. No fair value can be determined for the Blue Company bonds. Interest is payable on December 1 and June 1. Prepare in general journal format the entry to record the issuance of the bonds. (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 o for the amounts.) Account Titles and Explanation eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: 0 of 5 used Submit Answer