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Flounder corporation sold 3490000 7 show the balance sheet

Question - Flounder Corporation sold $3,490,000, 7%, 5-year bonds on January 1, 2017. The bonds were dated January 1, 2017, and pay interest on January 1. Flounder Corporation uses the straight-line method to amortize bond premium or discount.

(1) Show the balance sheet presentation for the bond issue at December 31, 2017, using the 104 selling price.

(2) Show the balance sheet presentation for the bond issue at December 31, 2017, using the 98 selling price.

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Accounting Basics: Flounder corporation sold 3490000 7 show the balance sheet

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Accounting Basics: Flounder corporation sold 3490000 7 show the balance sheet

Reference No:- TGS02914455

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