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TIA! Durrent Attempt in Progress On September 1.2020 , Splish Company sold 10,320 of its 10%,15-year, $1,000 face value, nonconvertible bonds with detachable stock warrants
TIA!
Durrent Attempt in Progress On September 1.2020 , Splish Company sold 10,320 of its 10%,15-year, $1,000 face value, nonconvertible bonds with detachable stock warrants at 102. Each bond carried three detachable warrants. Each warrant was for one share of common stock at a specified option price of $25 per share. Shortly after issuance, the warrants were quoted on the market for $2.50 each No market value can be determined for the Splish Company bonds. Interest is payable on December 1 and June 1. Prepare in general journal format the entry to record the issuance of the bonds. (Credit account tities are automatically indented when amount is entered. Do not indent manualily. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts.) Step by Step Solution
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