Bond Transactions Brand Company issued $1,250,000 face value, eight-year, 12% bonds on April 1, 2017, when the market rate of interest was 12%. Interest payments are due every October 1 and April 1. Brand uses a calendar year-end. Required: 1. Identify and analyze the effect of the issuance of the bonds on April 1, 2017. Activity Accounts Statement(s) How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign. Assets Balance Sheet Stockholders' Liabilities Equity 2. Identify and analyze the effect of the interest payment on October 1, 2017. Activity Accounts Statement(s) Revenues Income Statement Expenses Net Income How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign. Assets 3. On December 31, Brand should Balance Sheet Stockholders' Liabilities Equity 4. Determine the total cash inflows and outflows that occurred on the bonds over the eight-year life. Total cash inflows Total cash outflows Revenues Income Statement Expenses Net Income