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On july1, Holiday issued $12,000,000, 9%,10 year bonds at 102. Each bonds have 5 detachable...

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Accounting

On july1, Holiday issued $12,000,000, 9%,10 year bonds at 102. Each bonds have 5 detachable stock warrants. The fair value of the bonds without the warrants was $10,580,000. The fair value of the warrants is $1,450,000.the exercise price is 20 per share. At the end of 2017, none of warrants had been exercised.
Prepare journal entry

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