[SOLVED] Need help with 1 accounting question.
I dont know how to handle this Accounting question and need guidance.
Please provide the answer in excel.
On August 1, 2019, Schumpeter Conglomerates sold $260,000,000 20-year bonds with a coupon rate of 4% paid semi-annually. The market rate for a security of similar risk and maturity is 5%. Schumpeter Conglomerates hired Ivanovs Finance Shack to issue the securities at a cost of 1.75% of the selling price of the security. Attached to each $125,000 bond are six detachable warrants allowing for the purchase of 50 shares of no-par common stock for $5 per share. Each warrant is estimated to have a market value of $27. Record journal entries for the issuance of the bond, the first two interest payments, and any required adjusting entries for the fiscal year ending December 31, 2019.