On July 1, 2015, Roberts Corporation issued 3,000,000 of 9% bonds payable in 20 years. The bonds
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On July 1, 2015, Roberts Corporation issued €3,000,000 of 9% bonds payable in 20 years. The bonds include warrants giving the bondholder the right to purchase for €30 one ordinary share of €1 par value at any time during the next 10 years. The bonds were sold for €3,000,000. The net present value of the debt at the time of issuance was €2,900,000.
Prepare the journal entry to record this transaction.
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Related Book For
Intermediate Accounting IFRS Edition
ISBN: 9781118443965
2nd Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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