Doyle Company issued $306,000 of 10-year, 7 percent bonds on January 1, Year 1. The bonds were issued at face value. Interest is payable in cash on December 31 of each year. Doyle immediately invested the proceeds from the bond issue in land. The land was leased for an annual $65,000 of cash revenue, which was collected on December 31 of each year, beginning December 31, Year 1. Required a. Prepare the journal entries for these events, and post them to T-accounts for Year 1 and Year 2. Complete this question by entering your answers in the tabs below. Reg A1 Reg A2 Post the entries to T-accounts for Year 1 and Year 2. (Select "cl" for all the closing entries.) Cash Land Year 1 Year 1 1/1 12/31 End. Bal. Year 2 End. Bal. Retained Earnings Year 1 End. Bal Bonds Payable End. Bal. Year 1 Year 2 End. Bal. End. Bal. Lease Revenue Interest Expense Year 1 Year 1 End. Bal. End. Bal. Year 2 Year 2 End. Bal. End. Bal. (The following information applies to the questions displayed below.) Doyle Company issued $306,000 of 10-year, 7 percent bonds on January 1, Year 1. The bonds were issued at face value. Interest is payable in cash on December 31 of each year. Doyle immediately invested the proceeds from the bond issue in land. The land was leased for an annual $65,000 of cash revenue, which was collected on December 31 of each year, beginning December 31, Year 1. Required a. Prepare the journal entries for these events, and post them to T-accounts for Year 1 and Year 2. Answer is not complete. Complete this question by entering your answers in the tabs below. Reg A1 Req A2 Prepare the journal entries for Year 1 and Year 2. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Date General Journal Debit Credit 1 Jan 01 306,000 Cash Bonds payable 306,000 2 Jan 01 Land 306,000 Cash 306,000 3 Dec 31 Cash 65,000 ool Lease revenue 65,000 4 Dec 31 21,420 Interest expense Cash olol 21,420 5 Dec 31 Cash x 65,000 Lease revenue x 65,000 x 6 Dec 31 x 21,420 % Interest expense Cash X 21,420 X 7 Dec 31 Interest expense 21,420 Cash 21,420