Please use the form below.

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 Date Item Debit Credit Debit Credit Jan. 1 Balance 490,000 2 Retire bonds 98,000 392,000 June 30 Issue bonds 294,000 686,000 ACCOUNT Discount on Bond Payable ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 22,050 2 Retire bonds 7,840 14,210 June 30 Issue bonds 19,700 33,910 Dec. 31 Amortize discount 1,700 32,210 Item Section of Statement of Cash Flows Added or Deducted Amoun Retire bonds Issue bonds Amortization of discount 2 June 30 Retire bonds Financing activities section Issue bonds Investing activities section Amortize discour Operating activities section, if indirect method used Dec. 31 Item Separate schedule Added or Deducted An Retire bonds Issue bonds Amortization of discount 2 Retire bonds 7,840 14,210 June 30 Issue bonds 19,700 33,910 Added Dec. 31 Amortize discount 1,700 32,210 Deducted Report only Ited Item Section of Statement of Cash Flows Ad Retire bonds Issue bonds $ 5 Amortization of discount $