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Prepare the journal entry for the issuance of the bonds

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Question - Postal Inc. issued $1,000,000, 8% bonds at 104. Each $1,000 bond had one detachable warrant that allowed the bond holder to purchase 10 shares of common stock. At the time of issuance, each warrant had a fair market value of $165.

Required: Prepare the journal entry for the issuance of the bonds.

Reference no: EM131870274

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