Case D: Miller Bikes is a national chain of upscale bicycle shops. The company has followed a successful strategy of locating near major universities. Miller has the opportunity to expand into several new markets but must raise additional capital. The company has engaged in the following transactions:

Issued $45,600$ additional shares of common stock. The stock has a $$1$ par value. The shares sold for $$25$ per share.

Issued bonds. These bonds have a face value of $$1,060,000$ and a coupon rate of $10$ percent. The bonds mature in $10$ years and pay interest semiannually. When the bonds were issued, the annual market rate of interest was $8$ percent.

Required:

Record the sale of the bonds.

Record the issuance of the stock