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 "Cash flows from 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 510,000 2 Retire bonds 102,000 408,000 June 30 Issue bonds 306,000 714,000 ACCOUNT Discount on Bond Payable ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 22,950 2 Retire bonds 8,160 14,790 June 30 Issue bonds 20,500 35,290 Dec. 31 Amortize discount 1.760 33,530 Items Ratire honde My Work Section of Statement of Cash Flows Financing activities section V Added or Deducted Amount Deducted < Previous Next