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Use the following information to answer the TWO questions stated below. On March 1 , 2 0 2 3 , Golf Land, Inc., [ GLI
Use the following information to answer the TWO questions stated below.
On March Golf Land, Inc., GLI a publicly listed company and a favourite of the PREZ, issued $ of nonconvertible bonds at which are due on February In addition, each $ bond was issued with detachable stock warrants, and warrants entitled the bondholder to purchase one of GLI's no par value common shares for $ The bonds without the warrants would normally sell at On March the fair value of GLI's common shares was $ per share and the fair value of each warrant was $
On January of the warrants were exercised when the GLI stock price was $ The journal entry that GLI would prepare on that date would be:
a Dr Cash $; dr Contributed surpluswarrants $; cr common shares $
b Dr Cash $; dr Contributed surpluswarrants $; cr common shares $
c Dr Cash $; dr Contributed surpluswarrants $; cr common shares $
d r Cash $; dr Contributed surpluswarrants $; cr common shares $
e Dr Cash $; dr Contributed surpluswarrants $; cr common shares $
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