Business, 13.07.2019 04:10 xEmqq2034

Hoffman corporation issued $75 million of 6%, 20-year bonds at 102. each of the 75,000 bonds was issued with 10 detachable stock warrants, each of which entitled the bondholder to purchase, for $20, one share of $1 par common stock. at the time of sale, the market value of the common stock was $25 per share and the market value of each warrant was $4. prepare the journal entry to record the issuance of the bonds. (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.)

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Hoffman corporation issued $75 million of 6%, 20-year bonds at 102. each of the 75,000 bonds was iss...

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