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 390,000 2 Retire bonds 78,000 312,000 June 30 Issue bonds 234,000 546,000 ACCOUNT Discount on Bond Payable ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 17,550 2 Retire bonds 6,240 11,310 June 30 Issue bonds 15,700 27,010 Dec. 31 Amortize discount 1,350 25,660 Item Section of Statement of Cash Flows Added or Deducted Amount Retire bonds Issue bonds Amortization of discount