Hoosier Co.sold $300, 000 of 10% bonds for $311, 600.Each $1, 000 bond carried ten warrants and each warrant allowed the holder to acquire one share of $10 par value common stock for $25 a share.After the issuance of the securities, the bonds were quoted at 103.5 and each warrant was quoted at $9.
Required:
Prepare the entry to record the sale of the bonds.

Question

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The Answer of Hoosier Co.sold $300, 000 of 10% bonds for $311, 600.Each $1, 000 bond carried ten warrants and each warrant allowed the holder to acquire one share of $10 par value common stock for $25 a share.After the issuance of the securities, the bonds were quoted at 103.5 and each warrant was quoted at $9.
Required:
Prepare the entry to record the sale of the bonds.