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On January 1, 2020 the Jones Company issued 100 of its $1,000, 5-year, 10% bonds....

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Accounting

On January 1, 2020 the Jones Company issued 100 of its $1,000, 5-year, 10% bonds. Each bond also included 10 warrants. Each warrant allows the holder to purchase one share of the companys $10 par value common stock for $15.

  1. At the time of issue, bonds without warrants but with similar terms were selling at 99 and no market had been established for the warrants. Prepare the journal entry to record the sale of the bonds.

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