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Harley Corporation authorized $75,000 of 6%, 10-year, nonconvertible bonds with detachable stock purchase warrants. Each...

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Accounting

Harley Corporation authorized $75,000 of 6%, 10-year, nonconvertible bonds with detachable stock purchase warrants. Each $1,000 bond carried 20 detachable warrants, each of which was for one share of Harley common stock, par $20, at a specified exercise price of $60. The bonds sold with the warrants at 102 (no bond price without warrants was available). Immediately after the date of issuance, the detachable stock purchase warrants were selling at $4 each. All transactions occurred in the same fiscal year. a. Provide the entry for the issuer at the date of issuance of the bonds. b. Provide the entry for the issuer assuming exercise of all of the warrants by the investors at the specied exercise price. At this

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