Solved: The bonds were sold for 3000000 the value of the warrants, Accounting Basics

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The bonds were sold for 3000000 the value of the warrants

1. On July 1, 2010, Roberts Corporation issued $3,000,000 of 9% bonds payable in 20 years. The bonds include detachable warrants giving the bondholder the right to purchase for $30 one share of $1 par value common stock at any time during the next 10 years. The bonds were sold for $3,000,000. The value of the warrants at the time of issuance was $100,000. Prepare the journal entry to record this transaction.

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Accounting Basics: The bonds were sold for 3000000 the value of the warrants

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Accounting Basics: The bonds were sold for 3000000 the value of the warrants

Reference No:- TGS01485219

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