Flounder inc. issued $2,840,000 par value, 7% convertible bonds at 97 for cash. if the bonds had not included the conversion feature, they would have sold for 95. prepare the journal entry to record the issuance of the 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.)

Given that,

Flounder Inc. issued convertible bonds = $2,840,000 par value

Interest rate = 7%

Sold for cash = $97

If the bonds had not included the conversion feature, then

Sold for = $95

Therefore, the journal entry is as follows:

Cash A/c ($2,840,000 * 0.97)         Dr.     $2,754,800

Discount on issue of Bond A/c       Dr.    $85,200

To 7% Convertible Bonds payable                               $2,840,000

ans.

heterothermic organisms include those organisms that can switch between homeothermic (having body temperature higher than environment) and poikilothermic (having variation in internal body temperature) strategies.

some migratory birds show heterothermy as they decrease their metabolic rate during cold nights to keep their body temperature low. drop in metabolic rate allows increase in production efficiency of birds that reduces the internal body temperature to make it equal to external cold temperature during cold nights.

thus, the correct answer is 'birds allow their temperature drop in order to increase their production efficiency.'

one of the appeals of a sole proprietorship is that business expenses are kept separate from your personal income tax return