FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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For each of the unrelated transactions described below, present the entry(ies) required.
(a)
Sarasota Company issued $10,000,000 par value 5% bonds at 98. One detachable stock purchase warrant was issued with each
$100 par value bond. At the time of issuance, the warrants were selling for $2. (Credit account titles are automatically indented when
amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)
Account Titles and Explanation
Debit
Credit
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Transcribed Image Text:For each of the unrelated transactions described below, present the entry(ies) required. (a) Sarasota Company issued $10,000,000 par value 5% bonds at 98. One detachable stock purchase warrant was issued with each $100 par value bond. At the time of issuance, the warrants were selling for $2. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit
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