Plz answer fast i need fast answer without plagiarism i humble request On September 1, 2019, Schumpeter Conglomerates sold$230,000,000 20-year bonds with a coupon rate of 3% paid semi-annually. The market rate for a security of similar risk and maturityis 4%. Schumpeter Conglomerates hired Ivanov's Finance Shack toissue the securities at a cost of 2% of the selling price of thesecurity. Attached to each $125,000 bond are six detachablewarrants allowing for the purchase of 50 shares of no-par commonstock for $15 per share. Each warrant is estimated to have a marketvalue of $60. Record journal entries for the issuance of the bond,the first two interest payments, and any required adjusting entriesfor the fiscal year ending December 31, 2019.

A corporation can raise funds by selling debt instruments to investors through the issuance of…

Answered: value of $60. Record journal entries…

value of $60. Record journal entries for the issuance of the bond, the first two interest payments, and any required adjusting entries for the fiscal year ending December 31, 2019.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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