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On January 1,2019, Conroe Corporation sold $500,000 of 13% bends at 107 . Each $1,000...

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Accounting

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On January 1,2019, Conroe Corporation sold $500,000 of 13% bends at 107 . Each $1,000 bond carried 20 warrants, and each warrant allowed the holder to aoquire one share of $10 par value common stock for $20 per share. Subsequent to the issuance of the securities, the bonds wore quoted at 102 ox rights, and the warrants were quoted at $4 each. Required: 1. Defermine the valve to be assigned to the bonds and the warrants and prepare the pumal entry fo record the issuance of the convertible bonds. 2. Assume that 4,000 warrants are subsequently exercised on July 1, 2021. Prepare the pumat entry for the issuance of the common stock

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