Exercise 10-7B Two accounting cycles for bonds issued ar face value On January 1. Year 1. Hazman Corp, issued $200,000 of 10year, 6 percent bonds at their face value. Interest is payable on December 31 of each year with the first payment due December 31, Year L Required Show the effects of these bonds on the accounting equation for Year I and Year 2. Balance Sheet Income Statement Accounts Receivable Retaine Commo d In Stock Earnings Statement of Cash Flows Cash Liabilities Revenue Expense Net Income Event Year 1 Jan. 1 Dec 31 Year 2 Jan. 1 Dec. 31