Question: How do i solve this? Issuing Bonds Cyber Tech Inc. produces and distributes fiber optic cable for use by telecommunications companies. Cyber Tech Inc. Issued
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Issuing Bonds Cyber Tech Inc. produces and distributes fiber optic cable for use by telecommunications companies. Cyber Tech Inc. Issued $76,750,000 of 10-year, 7 % bonds on March 1 at their face amount, with Interest payable on March 1 and September 1. The fiscal year of the company is the calendar year Illustrate the effects on the accounts and financial statements of recording the following selected transactions for the current year. If no account or activity is affected, select "No effect" from the dropdown list and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amaunts. Round your answers to the nearest dol lar Mar. 1. Issued the bonds for cash at their face amount. Balance Sheet Statement Stockholders Income of Cash Assets Liabilities + Equity Statement Flows Mar. 1. Mar. 1 Statement of Cash Flows Income Statement Sept. 1. Paid the interest an the bonds Balance Sheet Statement Stockholders Income Liabilities of Cash Assets + Equity Statement Flows Sept. 1 Sept. 1 Statement of Cash Flows Income Statement Dec. 31. Recorded accrued interest for four months. Balance Sheet Statement Stockholders + Income of Cash Assets Liabilities = Equity Statement Flows Dec. 31 D, 31, Statement of Cash Flows Income Statement
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