Reporting Issuance and Retirement of Long-Term Debt:

Reporting Issuance and Retirement of LongTerm 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 ows 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 Balance 370,000 Retire bonds 296,000 June Issue bonds 222,000 518,000 D ACCOUNT Discount on Bond Payable ACCOUNT N0. Balance Balance Retire bonds June Issue bonds Dec. Amortize discou nt Items Section of Statement of Cash Flows Added or Deducted Amount Retire bonds Financing activities section \\/ Deducted J $:] ( Next) l