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Required information Exercise 10-6A (Algo) Two accounting cycles for bonds issued at face value LO 103 [The following information applies to the questions displayed below.]

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Required information Exercise 10-6A (Algo) Two accounting cycles for bonds issued at face value LO 103 [The following information applies to the questions displayed below.] Doyle Company issued $450,000 of 10 year, 7 percent bonds on January 1 , Year 2 . The bonds were issued at foce value. Interest is payable in cash on December 31 of each year. Doyle immediately invested the proceeds from the bond issue in land. The land was leased for an annual $54.500 of cash revenue, which was collected on December 31 of each year, beginning Docember 31, Year 2. Exercise 10-6A (Algo) Part b b. Prepare the income statement, balance shoet, and statement of cash fiows for Year 2 and Year 3 . Complete this question by entering your answers in the tabs below. Frepare the balance sheet for Year 2 and Year 3

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