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1. Determine the value to be assigned to the bonds and the warrants. Analysis Instructions...

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1. Determine the value to be assigned to the bonds and the warrants. Analysis Instructions Value Assigned to Bonds Value Assigned to Warrants GENERAL JOURNAL On January 1, 2019, Conroe Corporation sold $500,000 of 13% bonds at 107 . Each $1,000 bond carried 20 warrants, and each warzant allowed the hoider to acquire one share of $10 par value common stock for $20 per share. Subsequent to the issuance of the securites, the bonds were quoted at 102 ex rights, and the warrants wore quoted at $4 each. Required: 1. Determine the value to be assigned to the bands and the warrants and prepare the foumal entry to record the issuance of the conversble bonds. 2. Assume that 4,000 warrants are subsequently exercised on July 1, 2021. Prepare the journal ontry for the issuance of the common stock

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