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Cyber Tech Inc. produces and distributes fiber optic cable for use by telecommunications companies. Cyber Tech Inc. issued $ 6 0 , 5 0 0
Cyber Tech Inc. produces and distributes fiber optic cable for use by telecommunications companies. Cyber Tech
Inc. issued $ of year, bonds on March at their face amount, with Interest payable on March
and September 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. Issued the bonds for cash at their face amount.
Financial Statement Effects
Balance Sheet
Mar.
Sept. Paid the interest on the bonds.
Financial Statement Effects
Balance Sheet
Sept.
Dec. Recorded accrued interest for four months.
Financial Statement Effects
Balance Sheet
Dec.
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