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i have 20 min please asap Oriole Corporation issued 3,600 , five year, 4% bonds at 104 on January 1,2023 , Interest is paid annually.
i have 20 min please asap
Oriole Corporation issued 3,600 , five year, 4% bonds at 104 on January 1,2023 , Interest is paid annually. Each $1,000 bond carried one detachable warrant allowing the holder to purchase 100 common shares in Oriole at $11 per share, the price at which Oriole shares were trading on the day of the sale of the bonds. Similar straight bonds trading on the open market paid 5% On June 30, 2023, 720 of the bond hoiders exercised the options to bury the shares. Prepare the journal entries to record these events. (Round present walue foctor colculations to 5 decimal places, eg. 1.25124 and the final answer to 0 decimal placeses 58,971. Credit account tities are automatically indented when the amount is entered. Do not indent manually. Recond journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. List all debit entries before credit entries.) Step by Step Solution
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