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Doyle Company issued $410,000 of 10-year, 8 percent bonds on January 1, 2018. The bonds were issued at face value Interest is payable in cash

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Doyle Company issued $410,000 of 10-year, 8 percent bonds on January 1, 2018. 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 $58,500 of cash revenue, which was collected on December 31 of each year beginning December 31, 2018. Required a. Organize the transaction data in accounting equation for 2018 and 2019. (Enter any decreases to account balances with a minus sign. If there is no effect on the Accounts Titles for Retained Earnings, leave the cell blank.) DOYLE COMPANY Effect of Events on the Accounting Equation 2018 and 2019 Liabilities Stockholders Assets Equity Retained Earnings Accounts Titles for Retained Earnings Event Bonds and Payable CashL 2018 2/31 12/31 Bal 2019 Beg. bal. 12/31 12/31

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