Flounder Corporationsold 52,350,000,7%,5 yeir bontson January 1.2022 . The bondswere dated 1 aruary 1.2022 and...
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Flounder Corporationsold 52,350,000,7%,5 yeir bontson January 1.2022 . The bondswere dated 1 aruary 1.2022 and pay interest on January 1 Flounder Corporation uses thestralght-linemathod to amortize bond premium or discount. Prepareall the necessary joumblentries to record the ksuance of the bonds and bond interest expense for 2022, assuming that the bonds sold at 104 . (Credit occourt tiles art autamaticaly indentsd when amount ir entered, De not indent manueliy) (1) Show the balance sheet presentation for the bond issue st December 31,2022 , using the 104 selling price. (2) Show the balance sheet presentation for the bond issue at December 31,2022 , using the 98 selling price Preparejournal entries to record the lsguance of the bonds and bond interest expsnse for 2022, assuming that the bonds sold at 98 , (Credit acceunt titles sre outcmatically indented when diticunt be atered. Do not indent manuat k )
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