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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Intermediate Accounting IFRS Edition

ISBN: 9781118443965

2nd Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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