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Initial entry to record issuance using proportional method

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Reference no: EM13775593

Horrible Inc. issues 10,000, $100 face value, 8% debt with detachable warrants that permit the holder to purchase one share of stock for $18 per share. The bonds were issued at 102. Immediately after issue the bonds were selling for 98 without the warrants and the warrants have a market value of $8.

Prepare the initial entry to record the issuance using the proportional method:

Reference no: EM13775593

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