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Prepare Flint journal entries for the May

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Question - Flint Corporation issued $540,000 of 6% bonds on May 1, 2020. The bonds were dated January 1, 2020, and mature January 1, 2023, with interest payable July 1 and January 1. The bonds were issued at face value plus accrued interest.

Required - Prepare Flint's journal entries for (a) the May 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry.

Reference no: EM132642529

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