Stellar Corporation issued 6 , 0 0 0 , five year, 3 % bonds at 1 0
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Question:
Stellar Corporation issued five year, bonds at on January Interest is paid annually. Each $ bond carried one detachable warrant allowing the holder to purchase common shares in Stellar at $ per share, the price at which Stellar shares were trading on the day of the sale of the bonds. Similar straight bonds trading on the open market paid On June of the bond holders exercised the options to buy the shares.
Prepare the journal entries to record these events.
Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
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