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Flint Corporation issued $480,000 of 4% bonds on May 1, 2017. The bonds were dated January 1, 2017, and mature January 1, 2020, with interest
Flint Corporation issued $480,000 of 4% bonds on May 1, 2017. The bonds were dated January 1, 2017, and mature January 1, 2020, with interest payable July 1 and January 1. The bonds were issued at face value plus accrued interest. Prepare Flints journal entries for (a) the May 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry.
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