Assets = liabilities + stockholders' equity. Cash = bonds pay+interest pay + common stock+revenue-expense-dividend

On January 1, Sunland Company issued $355,000, 9%, 20-year bonds at face value. Interest is payable annually on January 1. Prepare a tabular summary to record the following events. (a) The issuance of the bonds. (b) The accrual of interest on December 31. (c) The payment of interest on January 1. (If a transaction causes a decrease In Assets, Liabilities or Stockholders Equity, place a negative sign (or parentheses) In front of the amount entered for the particular Asset, Llability or Equity Item that was reduced.) Assets Liabilities Cash Bonds Pay. Interest Pay. + Common Stock + (a) Jan.1 $ LA (b) Dec. 31 (c) Jan. 1 eTextbook and Media