EIssuance and Conversion of Bonds For each of the unrelated transactions described below, present the entries required to record each transaction.
Coyle Corp. issued $ par value convertible bonds at If the bonds had not been convertible, the companys investment banker estimates they would have been sold at Expenses of issuing the bonds were $
Lamber Co issued $ par value bonds at One detachable stock warrant was issued with each $ par value bond. At the time of issuance, the warrants were selling for $
Sepractor, Inc. called its convertible debt in Assume the following related to the transaction: The $ para value bonds were converted into shares of $ par value common stock on July On July there was $ of unamortized discount applicable to the bonds, and the company paid an additional $ to the bondholders to induce conversion of all the bonds. The company records the conversion using the book value method.
