Issuing Bonds

Cyber Tech Inc. produces and distributes fiber optic cable for use by telecommunications companies. Cyber Tech Inc. issued $69,000,000 of 25-year, 6% bonds on March 1 at their face amount, with Interest payable on March 1 and September 1. The fiscal year of the company is the calendar year.

Issuing Bonds Cyber Tech Inc. produces and distrit utes nber optic cable for use by telecom muni ations companies Cyber Tech Inc. issued $69 0 000 of 25 year, 6% b nds on March 1 at their race an unt, with nterest pa at leon Marc 1 and September 1 he fiscal yea of the company is tilustrate the e ects on the accounts and nnancial statements or recording t transactions for the current year. tr nD account or activity is a ected select e ed from the drop on list and leave the correspondin number entry box blank. Enter account decreases and cash outhows as negative amounts. Round your answers to the nearest dollar the callendar year the following selected Mar. 1. Issued the bonds for cash at their face amount Balance Sheet Statement of Assets + Stockholders" Equity Income Statement Cash Flows Cash v -Bonds payable + No effect Mar. 1. 0 Mar. 1. Statement of Cash Flows Income s tatemment No effect Sept. 1. Paid the interest on the bonds Balance Sheet Statement of Income Assets - LiabilitiesStockholders Equity Cash Flows Statement No effectRetained earnings Cash v Sept. 1. Sept. 1. Statement of Cash Flows Income Statement Operating V Interest expense