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Question 4 of 12 0.93/1 = The Flounder Company issued $260,000 of 10% bonds on January 1, 2020. The bonds are due January 1, 2025,

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Question 4 of 12 0.93/1 = The Flounder Company issued $260,000 of 10% bonds on January 1, 2020. The bonds are due January 1, 2025, with interest payable each July 1 and January 1. The bonds were issued at 103. Prepare the journal entries for (a) January 1, (b) July 1, and (c) December 31. Assume The Flounder Company records straight-line amortization semiannually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date Jan 1, 2020 Cash 267800 Premium on Bonds Payable 78 Bonds Payable 2600 July 1, 2020 Interest Expense Premium on Bonds Payable 780 Cash 130 Dec 31, 2020 Interest Expense Premium on Bonds Payable 780 Interest Payable 130

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