Prepare entry for this transaction

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Reference no: EM139701

On September 21, 2008, The Lopez Co, issues $ 1,000,000 of bonds having a coupon rate of 6%. To help the sale, detachable stock warrants are issued at the rate of ten warrants for each $ 1,000 bond sold. The fair market value of the warrants is $63,000. The bonds with the warrants sold at 101 plus accrued interest. Interest is payable on November 1 st and May st. (Assume a 360 day year 30 day months)

Prepare the 09/21/08 entry for this transaction.

Reference no: EM139701

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