6. A company retired $72 million of its 6% bonds at 105 ($75.6 million) before their scheduled maturity. At the time, the bonds had a remaining discount of $2 million.

Prepare the journal entry to record the redemption of the bonds. (Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Event	General Journal	Debit	Credit
1	Bonds payable	72.0	?
	Loss on early extinguishment	?	?
	Discount on bonds payable		2.0
	Cash	?	?

7. Hoffman Corporation issued $60 million of 9%, 15-year bonds at 106. Each of the 60,000 bonds was issued with 16 detachable stock warrants, each of which entitled the bondholder to purchase, for $24, one share of $1 par common stock. At the time of sale, the market value of the common stock was $29 per share and the market value of each warrant was $5.

Prepare the journal entry to record the issuance of the bonds. (Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Event	General Journal	Debit	Credit
1	Cash	?
	Discount on bonds payable	?
	Bonds payable		?
	Equity- stock warrants		?

8. Hoffman Corporation issued $80 million of 7%, 10-year bonds at 104. Each of the 80,000 bonds was convertible into one share of $1 par common stock.

Prepare the journal entry to record the issuance of the bonds. (Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Event	General Journal	Debit	Credit
1	Cash	?	?
	Bonds payable	?	?
	Premium on bonds payable	?	?