Business, 11.12.2019 22:31, que81hhh

On may 1, 2018, payne co. issued $1,500,000 of 7% bonds at 103, which are due on april 30, 2028. twenty detachable stock warrants entitling the holder to purchase for $40 one share of payne's common stock, $15 par value, were attached to each $1,000 bond. the bonds without the warrants would sell at 96. on may 1, 2018, the fair value of payne's common stock was $35 per share and of the warrants was $2. reference: ref 16-2 on may 1, 2018, payne should record the bonds with a group of answer choices discount of $16,800. discount of $15,000. discount of $60,000. premium of $45,000.

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On may 1, 2018, payne co. issued $1,500,000 of 7% bonds at 103, which are due on april 30, 2028. twe...