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(Show work and Calculations) On May 1, 2017, Larkspur Company issued 2,500 $1,000 bonds at 102. Each bond was issued with one detachable stock warrant.

(Show work and Calculations)

On May 1, 2017, Larkspur Company issued 2,500 $1,000 bonds at 102. Each bond was issued with one detachable stock warrant. Shortly after issuance, the bonds were selling at 99, but the fair value of the warrants cannot be determined. (a) Prepare the entry to record the issuance of the bonds and warrants.

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