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Prepare the journal entry for the following: On Jan 1, 2021, Raymond Corporation issued $300,000...

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Accounting

Prepare the journal entry for the following:

On Jan 1, 2021, Raymond Corporation issued $300,000 of 10% bonds at 105. Each $1,000 bond was sold with 25 detachable stock warrants, each permitting the investor to purchase one share of common stock for $17. On that date, the market value of the common stock was $15 per share and the market value of each warrant was $2.

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