Flint Company invests $10,000,000 in 6% fixed rate corporate bonds on January 1, 2020. All the bonds are classified as available-for-sale and are purchased at par. At year-end, market interest rates have declined, and the fair value of the bonds is now $10,710,000. Interest is paid on January 1. Prepare journal entries for Flint Company to (a) record the transactions related to these bonds in 2020, assuming Flint does not elect the fair option; and (b) record the transactions related to these bonds in 2020, assuming that Flint Company elects the fair value option to account for these bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

On January 1, 2020, Swifty Corporation issued $450,000 of 7% bonds, due in 8 years. The bonds were issued for $423,784, and pay interest each July 1 and January 1. Swifty uses the effective-interest method.Prepare the company’s journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. Assume an effective-interest rate of 8%.

Record journal entries for the following transactions for Sultan Private School during the year ended July 31, 2020. Cash contributions were received as follows: AED792,000 for any purpose desired by the school AED233,000 for salary supplements for school faculty AED458,000 to be used during the next fiscal year in any manner desired by the school AED576,000 for the construction of a new auditorium and AED300,000 to be invested permanently, with the income to be used as desired by the school . The school policy is to record all restricted gifts as temporarily restricted and then reclassify when the restriction is lifted. The school expended AED338,000 of the AED792,000 mentioned in (1a) for school furniture. The school expended AED124,000 for salary supplements as directed by the donor in (1b). The AED458,000 in (1c) was retained for use next year, as directed by the donor. AED689,000 was expended for the construction of the new auditorium. The AED300,000 mentioned in (1e) was…

Bridgeport Co. sells $426,000 of 12% bonds on June 1, 2020. The bonds pay interest on December 1 and June 1. The due date of the bonds is June 1, 2024. The bonds yield 10%. On October 1, 2021, Bridgeport buys back $140,580 worth of bonds for $145,580 (includes accrued interest). Give entries through December 1, 2022.Prepare all of the relevant journal entries from the time of sale until December 31, 2022.   Do not give answer in image formate