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Check my work 4 Hoffman Corporation issued $75 million of 7 % , 15- year bonds at 104. Each of the 75,000 bonds was issued
Check my work 4 Hoffman Corporation issued $75 million of 7 % , 15- year bonds at 104. Each of the 75,000 bonds was issued with 15 detachable stock warrants, each of which entitled the bondholder to purchase, for $30, one share of $1 par common stock. At the time of sale, the market value of the common stock was $35 per share and the market value of each warrant was $8. 10 Prepare the journal entry to record the issuance of the bonds. (Enter your answers in millions rounded to 1 decimal place (l.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.) points eBook View transaction list Print Journal entry worksheet 1 References Record the issuance of the bonds. Note: Enter debits before credits Event General Journal Debit Credit Clear entry View general journal Record entry Mo 4 of 13 Next >
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