Business, 12.08.2019 19:20, Basicwhitegirl1

Hoffman corporation issued $80 million of 8%, 20-year bonds at 105. each of the 80,000 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 $7. prepare the journal entry to record the issuance of the bonds.

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Hoffman corporation issued $80 million of 8%, 20-year bonds at 105. each of the 80,000 bonds was iss...