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eBook Reporting Issuance and Retirement of Long-Term Debt On the basis of the details of the following bonds payable and related discount accounts, indicate the
eBook Reporting Issuance and Retirement of Long-Term Debt On the basis of the details of the following bonds payable and related discount accounts, indicate the items to be reported in the Financing Activities section of the statement of cash flows, assuming no gain or loss on retiring the bonds ACCOUNT Bonds Payable ACCOUNT NO Balance Debit Credit Debit Date Item 1 Jan Jan Credit 440,000 352,000 616,000 Balance Retire bonds Issue bonds 2 88,000 June 30 264,000 ACCOUNT NO. ACCOUNT Discount on Blond Payable Balance Item Date Debit Credit Debit Credit Jan 19,800 1 Balance Jan 2 12,760 Retire bonds 7,040 June 30 Issue bonds 17,700 30,460 28,940 Dec 31 Amortize discount 1,520 eBook Printem On the basis of the details of the following bonds payable and related discount accounts, indicate the itens to be reported in the Financing Activities section of the statement of cash Mows, assuming no gain or loss on retiring the bonds: ACCOUNT Bonds Payable ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan 1 Balance 440,000 Jan 2 Retire bonds 88,000 352,000 June 30 Issue bonds 264,000 616,000 ACCOUNT NO ACCOUNT Discount on Bond Payable Balance Credit Debit Debit Credit Item Date Jan 1 19,800 12,760 7,040 Jan Balance Retire bonds Issue bonds Amortire discount 30,460 17,700 June 30 1.520 28,940 Dec 31 Amount Item Added or Deducted Deducted X Retire bonds Section of Statement of Cash Flows Financing activities section Financing activities section Operating activities section, If indirect method used Added Tosue bonds Added Amortiration of discount
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