Prepare any journal entries relevant to year for macrohard

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Problem 1: In 2020, MacroHard issued 800, $1,000 bonds with detachable stock warrants for $1,000. Each warranty can be exercised for $30 and upon payment of the exercise fee, the warrant holder would receive 40 shares of P3 common stock. The bonds pay interest at 6% and have a value without the warrants of $742,000 or a price that yields 7%. The warrants without the bonds would trade for $30 per warrant. Prepare any journal entries relevant to the year 2020 for MacroHard. MacroHard has a calendar fiscal year.

Reference no: EM132973435

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