Question: Please help fill these charts (a & b) in. B has two parts. Doyle Company issued $500,000 of 10-year, 7 percent bonds on January 1,
Please help fill these charts (a & b) in. B has two parts.



Doyle Company issued $500,000 of 10-year, 7 percent bonds on January 1, Year 2. The bonds were issued at face value Interest is payable in cash on December 31 of each year. Doyle immediately invested the proceeds from the bond issue in land. The land was leased for an annual $125,000 of cash revenue, which was collected on December 31 of each year, beginning December 31, Year 2 Required a. Organize the transaction data in accounts under the accounting equation for Year 2 and Year 3. (Enter any decreases to account balances with a minus sign. Select "NA" if there is no effect on the "Accounts Titles for Retained Earnings".) DOYLE COMPANY Effect of Events on the Accounting Equation Year 2 and Year 3 Assets LiabilitiesStockholders Equity Accounts Titles for Retained Earnings Event +Retained Earnings CashLand Payable Year 2 12/31 12/31 Bal 0 Year 3 Beg. bal 12/31 12/31 End. bal 0
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