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please answer all questions Cyber Tech Inc. produces and distributes fiber optic cable for use by telecommunications companies. Cyber Tech Inc, issued $50,000,000 of 20-year,
please answer all questions
Cyber Tech Inc. produces and distributes fiber optic cable for use by telecommunications companies. Cyber Tech Inc, issued $50,000,000 of 20-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. Illustrate the effects on the accounts and financial statements of recording the following selected transactions for the current year. If no account or activity is affected, select "No effect" from the dropdown list and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts. Mar. 1. Issued the bonds for cash at their face amount. Balance Sheet Assets Liabilities + Stockh Mar. 1. Statement of Cash Flows Income Sept. 1. Pald the interest on the bonds. Balance Sheet Assets Liabilities Stockh Sept. 1. Statement of Cash Flows Income Dec. 31. Recorded accrued interest for four months. Balance Sheet Assets Liabilities Stockh Dec. 31. Statement of Cash Flows Income Step by Step Solution
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