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[The following information applies to the questions displayed below.) Doyle Company issued $277,000 of 10-year, 7 percent bonds on January 1, Year 1. 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 1. equired Prepare the journal entries for these events, and post them to T-accounts for Year 1 and Year 2. Complete this question by entering your answers in the tabs below. Req A1 Req A2 Prepare the journal entries for Year 1 and Year 2. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) Prepare the journal entries for Year 1 and Year 2. (If no entry is required for a the first account field.) View transaction list View journal entry worksheet X: X: 1 Record the issue of bonds payable. 2 Record the purchase of land. 3 Record the receipt of lease revenue for Year 1. Record the interest expense for bonds payable for Year 1. 5 Record the entry to close revenue and expense accounts for Year 1. Record the receipt of lease revenue for Year 2. Record the interest expense for bonds payable for Year 2. Note : = journal entry has been entered Post the entries to T-accounts for Year 1 and Year 2. (Select "c1" for all the closing entries.) Cash Land Year 1 Year 1 End. Bal End. Bal. Year 2 Retained Earnings Year 1 End. Bal Bonds Payable Year 1 End. Bal. Year 2 End, Bal End. Bal. Lease Revenue Interest Expense Prou Alaut End. Bal. 0 End. Bal. Lease Revenue Interest Expense Year 1 Year 1 End. Bal. End. Bal. Year 2 Year 2 End. Bal. End. Bal Req B1 Req B2 Req B3 Prepare the balance sheet for Year 1 and Year 2. DOYLE COMPANY Balance Sheets For the Year Ended December 31 Year 1 Year 2 Assets nces Total assets Liabilities Stockholder's equity Total stockholder's equity Total liabilities and stockholders' equity Req B1 Req B2 Req B3 Prepare the statement of cash flows for Year 1 and Year 2. (Cash outflows should be indi DOYLE COMPANY Statements of Cash Flows For the Year Ended December 31 Year 1 Cash flows from operating activities: Year 2 Net cash flow from operating activities Cash flows from investing activities: Cash flows from financing activities: Net change in cash Ending cash balance