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Brief Exercise 14-8 Flounder Corporation issued $670,000 of 9% bonds on November 1, 2017, for...

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Accounting

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Brief Exercise 14-8 Flounder Corporation issued $670,000 of 9% bonds on November 1, 2017, for $715,529. The bonds were dated November 1, 2017, and mature in 10 years, with interest payable each May 1 and November 1, Flounder uses the effective-interest method with an effective rate of 896 Prepare Flounder's December 31, 2017, adjusting entry.(Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answer to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit December 31, 2017 SHOW LIST OF ACCOUNTS LINK TO TEXT

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