Current Liabilities Zahn Inc. sold 18,000 annual magazine subscriptions for $63 during December 2014. These new subscribers will receive monthly issues, beginning in January 2015. Zahn Inc. issued a $179,000, 180-day, 5% note payable on December 1, 20Y4. On March 31, 2045, Zahn Inc. had accounts payable of $ 25,000 and accrued wages payable of $6,000. Prepare the Current Liabilities section of the balance sheet for Zahn Inc. on March 31, 2045. Do not round intermediate calculations and round your final answers to the nearest dollar. (Assume 360 days in a year.) Zahn Inc. Current Liabilities Section of the Balance Sheet March 31, 2015 Current liabilities: Accounts payable $ 25,000 Accrued wages payable 6,000 Accrued interest payable -8,950 X Notes payable 179,000 Advances on magazine subscriptions 850,500 Total current liabilities Issuing Bonds Cyber Tech Inc. produces and distributes fiber optic cable for use by telecommunications companies. Cyber Tech Inc. issued $73,750,000 of 20-year, 8% bonds on March 1 at their face amount, with Interest payable on March 1 and September 1. The fiscal year of the company is the calendar year. Illustrate the effects on the accounts and financial statements of recording the following selected transactions for the current year. If no account or activity is affected, select "No effect" from the dropdown list and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts. Round your answers to the nearest dollar. Mar. 1. Issued the bonds for cash at their face amount. Balance Sheet Income Statement of Cash Flows Assets Liabilities + Stockholders' Equity Statement Cash = Bonds payable + No effect Mar. 1. 73,750,000 73,750,000 o Mar. 1. Statement of Cash Flows Income Statement Financing 73,750,000 No effect Sept. 1. Paid the interest on the bonds. Balance Sheet Statement of Cash Flows Assets Liabilities Stockholders' Equity Income Statement Cash = No effect + Retained earnings Sept. 1. -2,950,000 o -2,950,000 Sept. 1. Statement of Cash Flows Income Statement Operating -2,950,000 Interest expense -2,950,000 Dec. 31. Recorded accrued interest for four months. Balance Sheet Income Statement of Cash Flows Assets Liabilities + Stockholders' Equity Statement No effect Interest payable + Retained earnings Dec. 31. 0 -1,770,000 x -1,770,000 X Dec. 31. Statement of Cash Flows Income Statement No effect Interest expense V -1,770,000 x