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On June 30, 2017. Flint Company issued $5.100.000 Face value of 13% 20-year bonds at $5483,670, a yield of and December 31 Fines the effective-interest

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On June 30, 2017. Flint Company issued $5.100.000 Face value of 13% 20-year bonds at $5483,670, a yield of and December 31 Fines the effective-interest method to amortize bond premium or discount The bonds paysann feest on line 30 werden 3 4 by r Prepare the journal entries to record the following transactions. Round when amount is entered. Do not inden man ett y for the account indender for the amounts Credit counter automaty Indented (1) The issuance of the bondhoune 302017 2 The payment of interest and the motion of the premium on December 31 2017 (a) The payment of interest and the mo tion of the premium on June 30, 2018 14 The payment of interest and the mortization of the prema on December 31, 2018 Account Tities and Explanation Date (1) June 30, 2017 121 December 31, 2017 13 June 30, 2018 Show the proper balance sheet presentation for the liability for bonds payable on the December 31, 2018, balance sheet.Rowanswers to decimal plan, 30.540 Flint Company Balance Sheet e Textbook and Media List of Accounts Provide the answers to the following questions (1) What amount of interest expense is reported for 2018? (Round answer to decimal places, e 38,548.) Interest expense reported for 2018 S (2) Will the bond interest expense reported in 2018 be the same as greater than or less than the amount that would be reported it the straight line method of amortization were us The bond interest expense reported in 2018 will be the amount that would be reported if the straight-line method of amortization were used (3) Determine the total cost of borrowing over the life of the bond. (Round answer to decimal places, eg 38,5480 Total cost of borrowing over the life of the bonds

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