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JT Engineering issued bonds with detachable common stock warrants. At the time of issue, the warrants had a known market value while the bonds did
JT Engineering issued bonds with detachable common stock warrants. At the time of issue, the warrants had a known market value while the bonds did not. For each $1,000 face value bond sold, proceeds of $1,025 were received. The value of the warrants attached to each bond was known to be $35. When JT records the sale of a bond, which of the following would form part of their journal entry? Select answer from the options below Credit to Contributed Surplus - Warrants for $25 Credit to Bonds Payable for $990 Credit to Bonds Payable for $1,000 Credit to Bonds Payable for $975
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