On September 21, 2010, The Lopez Co. issues $1,000,000 of bonds having a coupon rate of 6%.

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On September 21, 2010, The Lopez Co. issues $1,000,000 of bonds having a coupon rate of 6%. To help the sale, detachable stock warrants are issued at the rate of ten warrants for each $1,000 bond sold. The fair market value of the warrants is $63,000. The bonds with the warrants sold at 101 plus accrued interest. Interest is payable on November 1st and May 1st. (Assume a 360 day year, i.e., 30-day months.)
Prepare the 9/21/10 entry for this transaction.
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Intermediate Accounting

ISBN: 978-0176509736

10th Canadian Edition, Volume 1

Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,

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