Question: Please help me understand this better. Which blocks need to be filled in? Practice Exercise 3 On August 1, 2017, Ayayai Corp. issued $506,400, 7%,

Please help me understand this better. Which blocks need to be filled in?

Practice Exercise 3 On August 1, 2017, Ayayai Corp. issued $506,400, 7%, 10-year bonds at face value. Interest is payable annually on August 1. Ayayai's year-end is December 31. Prepare a tabular summary to record the following events. (a) (b) (c) The issuance of the bonds. The accrual of interest on December 31, 2017. The payment of interest on August 1, 2018. (If a transaction causes a decrease in Asse&, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Stockholders' Equity Retained Earnings Cash (a) Aug.l, 2017 (b) Dec. 31, 2017 (c) Aug. 1, 2018 Bonds Liabilities Pay. + Interest Pay. Common Stock + Revenue Expense Dividend Interest expense Interest expense Click if you would like to Show Work for this question: LINK TO TEXT Open Show Work

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