3151825 - Default Value incorrect for indicator field

An Indicator extension field with default value being set to "No" is not working

Cloud for Customer

1. Add a KUT Indicator Field to Opportunity TI
2. Set Default Value as "No" and Save
3. Go to Opportunity
4. See that the Indicator Field is set to "Yes

The Opportunity was created before the KUT field was added and Default Value was added.

Default value is assigned only to new instance and not to old instance.

 Expected Behavior

Indicator Field, Default Value, Extension Field, KUT, TI , KBA , AP-RC-UIF-FLX , Page Layout & Key User Configuration , Problem