On October $1,2021,$ Flounder Corp. issued $$780,000,9\%,10-$year bonds at face value. The bonds were dated October $1,2021,$ and pay interest annually on October $1.$ Financial statements are prepared annually on December $31.$

$($a$),($c$)-($d$)$

Your answer is partially correct.

$($a$)$ Prepare a tabular summary to record the issuance of the bonds and the adjustments to record the accrual of interest on December $31,2021.$

$($c$)$ Prepare a tabular summary to record the payment of interest on October $1,2022.$

$($d$)$ Prepare a tabular summary to record redemption of the bonds on October $1,2031,$ their maturity date. $($Assume interest has already been recorded and paid.$)$

Include margin explanations for the changes in revenues and expenses. If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign $($or parentheses$)$ in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.$)$

Stockholders' Equity

Pd$.$ in Cap.

Retained Earnings

CommonStock