On July 1, 2022, Roberts AG issued 3,000,000 of 9% bonds payable in 20 years. The bonds
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On July 1, 2022, Roberts AG issued €3,000,000 of 9% bonds payable in 20 years. The bonds include warrants giving the bondholder the right to purchase for €30 one ordinary share of €1 par value at any time during the next 10 years. The bonds were sold for €3,000,000. The net present value of the debt at the time of issuance was €2,900,000. Prepare the journal entry to record this transaction.
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Journal entries Cash account 300000 debit Discount on BP 96600 debit Bonds paya...View the full answer
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Related Book For
Intermediate Accounting IFRS
ISBN: 9781119607519
4th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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