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Network Solutions Inc, produces and distributes tiber optic cable for use by telecommunicaticns companies. Network 50 tutions Inc. issued 575,750,000 of 10 -year, 8% bonds
Network Solutions Inc, produces and distributes tiber optic cable for use by telecommunicaticns companies. Network 50 tutions Inc. issued 575,750,000 of 10 -year, 8% bonds on March 1 at their foce amount, with interest pavable on March 1 and september 1 . The fiscal year of the company is the calendar year. Wistrate the effects on the accounts and financial statements of recording tho following selected transactions for the current vear. If no acciount or activity is affected, select "No effect" from the dropdown list and leave the corresponding number entry box blank. Enter account decreases and cash outilows as neuative amounts. Round your answers to the nearest dollar. Mar. 1. Lssued the bonds for cash at their face amount. Mar. 1. Issued the bonds for cash at their face amount. Dec. 31. Recorded accrued interest for four months
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