Question: Solve the wrong ones please. 14-2 3.99/7.5 Total points awarded Help i rcise 14-26 BonGs witn aetacnapie warrants LU14-D On August 1, 2018, Limbaugh Communications

 Solve the wrong ones please. 14-2 3.99/7.5 Total points awarded Help
i rcise 14-26 BonGs witn aetacnapie warrants LU14-D On August 1, 2018,
Limbaugh Communications issued $45 million of 9% nonconvertible bonds at 102. The
Solve the wrong ones please.

14-2 3.99/7.5 Total points awarded Help i rcise 14-26 BonGs witn aetacnapie warrants LU14-D On August 1, 2018, Limbaugh Communications issued $45 million of 9% nonconvertible bonds at 102. The bonds are due on July 31, 2038. Each $1,000 bond was Issued with 20 detachable stock w purchase, for $40, one share of Limbaugh Communications' no par common stock. Interstate Containers purchased 20% of the bond issue. On August 1, 2018, the market value of the common stock was $39 per share and the market value of each warrant was $9. each of which entitled the bondholder to ded In February 2029, when Limbaugh's common stock had a market price of $53 per share and the unamortized discount balance was $2 million, Interstate Containers exercised the warrants it held. Required: 1. Prepare the journal entries on August 1, 2018, to record (e) the issuance of the bonds by Limbaugh and (b) the investment by 2. Prepare the journal entries for both Limbaugh and interstate in February 2029, to record the exercise of the warrants. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entries on August 1, 2018, to record (a) the issuance of the bonds by Limbaugh and (b) the investment by Interstate. (If no entry is required for a transaction/event, select "No journal entry required" in the first account r answers in millions and round to 2 decimal places (i.e., 5,500,000 should be entered as 5.50)). Debit 45.90 .20 No Event Cash 45.00 810 Prev 40f 5 Next > 2029, to record the ed be 45.90 on 8.10 16.20 16.02 4 of 5 Next > KPrev (e) the issuance of the bonds by Limbaugh and (b) the 2. Prepare the journal entries for both Limbaugh and Interstate In February 2029, to record the exercise of the warrants. ded Required Reqgired 2 Prepare the journal entries for both Limbaugh and Interstate in February 2029, to record the e of the warrants. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions and round to 2 decimal places (i.e., 5,500,000 should be entered as 5.50)). No Debit Cash 23.40 8.10 Equity-stock 15.30 15.30 2 8.10 0 7.20 Cash

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