2. Windsor Corporation is a regional company which is an SEC registrant. The corporations securities are thinly traded on NASDAQ. Windsor Corp. has issued 13,000 units. Each unit consists of a $650 par, 12% subordinated debenture and 13 shares of $7 par common stock. The units were sold to outside investors for cash at $1,144 per unit. Prior to this sale, the 2-week ask price of common stock was $52 per share. Twelve percent is a reasonable market yield for the debentures, and therefore the par value of the bonds is equal to the fair value. (a) Prepare the journal entry to record Windsors transaction, under the following conditions. (Round answers to 0 decimal places, e.g. $38,487. 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 0 for the amounts.) (1) Employing the incremental method. (2) Employing the proportional method, assuming the recent price quote on the common stock reflects fair value. No. Account Titles and Explanation Debit Credit 1. enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount 2. enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount eTextbook and Media List of AccountsAssistance Used Bonds Payable Buildings Cash Common Stock Common Stock Dividend Distributable Debt Investments Dividends Payable Discount on Bonds Payable Equipment Equity Investments Income Summary Land Legal Fees Expense No Entry Organization Expense Paid-in Capital from Treasury Stock Paid-in Capital in Excess of Par - Common Stock Paid-in Capital in Excess of Par - Preferred Stock Paid-in Capital in Excess of Stated Value - Common Stock Preferred Stock Property Dividends Payable Retained Earnings Retained Earnings Appropriated for Plant Expansion Share Capital-Ordinary Share Capital-Preference Share Premium-Conversion Equity Share Premium-Ordinary Share Premium-Preference Treasury Stock Unamortized Bond Issue Costs Unrealized Holding Gain or Loss - Income Attempts: 0 of 5 used