Question: Current Attempt in Progress Nash Corporation issued 6,000, five year, 3% bonds at 103 on January 1, 2020. Interest is paid annually. Each $1,000 bond

$Current Attempt in Progress Nash Corporation issued 6,000, five year, 3\%$

Current Attempt in Progress Nash Corporation issued 6,000, five year, 3\% bonds at 103 on January 1, 2020. Interest is paid annually. Each $1,000 bond carried one detachable warrant allowing the holder to purchase 100 common shares in Nash at \$9 per share, the price at which Nash shares were trading on the day of the sale of the bonds. Similar straight bonds trading on the open market paid 6\%. On June 30, 2020, 1,200 of the bond holders exercised the options to buy the shares. Prepare the journal entries to record these events. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to 0 decimal places e.g. 58,971. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

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