FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:Hoffman Corporation issued $70 million of 5%, 15-year bonds at 102. Each of the 70,000 bonds was convertible into one share of $1
par common stock.
Prepare the journal entry to record the issuance of the bonds.
Note: Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). If no entry is required
for a transaction/event, select "No journal entry required" in the first account field.
View transaction list
Journal entry worksheet
< 1
Record the issuance of the bonds.
Note: Enter debits before credits.
Event
1
Record entry
General Journal
Clear entry
Debit
Credit
View general journal
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