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Make Flints December adjusting entry

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Question - Flint Corporation issued $540,000 of 7% bonds on November 1, 2017, for $580,171. The bonds were dated November 1, 2017, and mature in 10 years, with interest payable each May 1 and November 1. Flint uses the effective-interest method with an effective rate of 6%.

Required - Make Flint's December 31, 2017, adjusting entry.

Reference no: EM132482893

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