RCES Practice Exercise 3 On August 1, 2017, Flint Corporation issued $502,800, 7%, 10-year bonds at face value. Interest is payable annually on August 1. December 31. Prepare a tabular summary to record the following events. tudy (a) (b) (c) The issuance of the bonds. The accrual of interest on December 31, 2017. The payment of interest on August 1, 2018. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses entered for the particular Asset, Llability or Equity Item that was reduced.) Assets Liabilities Stockholders' Equity Retained Earni Revenue - Expense - Di Cash = Bonds Pay. + Interest Pay. + + Stock (a) Aug 1, 2017 (b) Dec 31, 2017 (c) Aug. 1. 2018 Click if you would like to Show Work for this question: Open Show Work CALCULATOR PRINTER VERSION BACK NEXT RESOURCES arning rporation issued $502,800,7%, 10-year bonds at face value. Interest is payable annually on August 1. Flint's year-end is to record the following events. by Study nds. on December 31, 2017. st on August 1, 2018. decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount Asset, Liability or Equity Item that was reduced.) Liabilities Stockholders' Equity Retained Earnings Interest Pay. - Bonds Pay. + Interest Pay. + Common + Revenue - Expense - Dividend Stock Interest expense Interest expense Show Work for this question: Open Show Work