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Doyle Compony lasued $297,000 of 10yesr, 5 percent bonds an Jonusy 1, Yeer 1 . The bonds were lasued st face velue. Interest ls poyoble
Doyle Compony lasued $297,000 of 10yesr, 5 percent bonds an Jonusy 1, Yeer 1 . The bonds were lasued st face velue. Interest ls poyoble in cssh on December 31 of esch yes. Doyle Immedistely invested the proceeds from the bond lsaue in land. The land wss lessed for sn snnusl $76,000 of cssh revenue, which wes collected on December 31 of esch yesr, beginning December 31, Year 1. b. Prepsere the income statement, bolance sheet, snd statement of cash flows for Yesr 1 and Year 2 Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Prepare the statement of cash flows for Year 1 and Year 2. (Cash autflows should be indicated with a minus sign.)
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