chapter 14 data (bonds payable Liability)

Date	Cash interest	Interest revenue	Amortization of discount	Discount balance	Amortized Cost
7/1/2018				$ 33,367	$ 666,633
12/31/2018	$ 42,000	$ 46,664	$ 4,664	28,703	671,297
6/30/2019	42,000	46,991	4,991	23,712	676,288
12/31/2019	42,000	47,340	5,340	18,372	681,628
6/30/2020	42,000	47,714	5,714	12,658	687,342
12/31/2020	42,000	48,114	6,114	6,544	693,456
6/30/2021	42,000	48,542	6,542	2	699,998

Change the financial statement which is below from chapter 14 data (bonds payable Liability) .

The highlighted cells need to be changed o Balance sheets: Assets o Income statement: interest revenue o Statement of cash flows Direct operating Interest received o Statement of cash flows Indirect operating o Statement of cash flows Investing activities ? For the number cells, the required changes mostly consist of changing the signs (from positive to negative and vice versa).

	For year ended
Income Statement	12/31/2018	12/31/2019	12/31/2020	12/31/2021
Other revenue and expense
	$ 46,664	$ 94,331	$ 95,828	$ 48,542
Balance Sheet	12/31/2018	12/31/2019	12/31/2020
	$ 700,000	$ 700,000	$ 700,000
	(28,703)	(18,372)	(6,543.77)
	$ 671,297	$ 681,628	$ 693,456
	For year ended
Statement of Cash Flows, assuming no other transactions	12/31/2018	12/31/2019	12/31/2020	12/31/2021
Operating Activities - Direct Method
Net cash flows from operating activities
Operating Activities - Indirect method, assuming interest revenue was only source of income
Net loss (in parenthesis)	$ (46,664)	$ (94,331)	$ (95,828)	$ (48,542)
	4,664	10,331	42,084	6,542
Net cash flows from operating activities	$ (42,000)	$ (84,000)	$ (53,744)	$ (42,000)
___________ Activities
	$ (666,633)	-	-	-
	-	-	-	$ 700,000
Net cash flows from investing activities	$ (666,633)	$ -	$ -	$ 700,000

-------------then record the following journal entries.

July 1, 2018

December 31, 2018