Required Information Exercise 10-6A Two accounting cycles for bonds issued at face value LO 10-3 [The following information applies to the questions displayed below) Doyle Company issued $350,000 of 10-year, 8 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 $56,000 of cash revenue, which was collected on December 31 of each year, beginning December 31, Year 2. Exercise 10-6A Part a 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. Not all cells in the "Accounts Titles for Retained Earnings" column may require an input - leave cells blank if there is no corresponding input needed.) Answer is not complete. DOYLE COMPANY Effect of Events on the Accounting Equation Year 2 and Year 3 Liabilities Stockholders Equity Bonds Retained Land Payable Earnings + Assets Event Accounts Titles for Rotalned Earnings Cash + + Year Answer is not complete. DOYLE COMPANY Effect of Events on the Accounting Equation Year 2 and Year 3 Liabilities Stockholders Equity Bonds Retained Land + Payablo Earnings Assets Event Accounts Titles for Retained Earnings Cash Year 2 1/1 3,500,000 X + 1/1 + SIX 3,500,000 3,500,000 + (3,500,000) 56,000 (28,000) 28,000 12/31 XIS Interest expense 56,000 Salaries expense (28,000) Lease revenue Interest expense 28,000 + 12/31 + + + 3,500,000 3,500,000 + Bal. Year 3 Beg bal 12/31 56,000 XS Lease revenue 56,000 (28,000) 84,000 12/31 End bal. 56,000 (28,000) 28,000 Interest expense