Kingbird, Inc. issues $261,000, 10-year, 8% bonds at 98. Prepare a tabular summary to record the sale of these bonds on March 1, 2022. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) $ Assets Cash Bonds Pay. 261000 Liabilities LA Disc. on Bonds Pay. + + LA Common Stoc

Kingbird, Inc, issues $261,000,10-year, 8% bonds at 98 . Prepare a tabular summary to record the sale of these bonds on March 1,2022. Include margin explanations for the changes in revenues and expenses. (If a transoction causes a decrease in Assets, Liabilities or Stockholders' Equity, ploce a negative sign (or parentheses) in front of the amount entered for the particular Asset, Llability or Equity item that was reduced.)