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Doyle Company issued $$420,000$ of $10-$year, $7$ percent bonds on January $1,$ Year $1.$ The bonds were issued at face value. Interest is payable in cash on December $31$ of each year. Doyle immediately invested the proceeds from the bond issue in land. The land was leased for an annual $$52,000$ of cash revenue, which was collected on December $31$ of each year, beginning December $31,$ Year $1.$

Required:

a$.$ Organize the transaction data in accounts under the accounting equation for Year $1$ and Year $2.$

Note: Enter any decreases to account balances with a minus sign. If there is no effect on the Account Titles for Retained Earnings, leave the cell blank. Not all cells will require entry.

$\backslash$table$[[$DOYLE COMPANY$],[$Effect of Events on the Accounting Equation$],[$Year $1$ and Year $2],[$Event$,$Assets,,,$+$

$\backslash$table$[[\backslash$table$[[$Stockholders$\text{'}],[$Equity$]]],[\backslash$table$[[$Retained$],[$Earnings$]]]],\backslash$table$[[$Account Titles for$],[$Retained Earnings$]]],[$Cash$,+,$Land,,,$],[$Year $1],[\frac{1}{1},,+,,]=,,+,,],[\frac{1}{1},,+,,=,,+,,],[\frac{12}{31},,+,,=,,+,,],[\frac{12}{31},,+,,=,,+,,],[$Balance$,0,+,,=,,+,0,],[$Year $2],[$Beginning balance,,$+,,]=,,+,,],[\frac{12}{31},,+,,=,,+,,],[\frac{12}{31},,+,,=,,+,,],[$Ending balance,$0,+,0,=,0,+,0,]]$Required information

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$[$The following information applies to the questions displayed below.$]$

Doyle Company issued $$420,000$ of $10-$year, $7$ percent bonds on January $1,$ Year $1.$ The bonds were issued at face value. Interest is payable in cash on December $31$ of each year. Doyle immediately invested the proceeds from the bond issue in land. The land was leased for an annual $$52,000$ of cash revenue, which was collected on December $31$ of each year, beginning December $31,$ Year $1.$

Required:

a$.$ Organize the transaction data in accounts under the accounting equation for Year $1$ and Year $2.$

Note: Enter any decreases to account balances with a minus sign. If there is no effect on the Account Titles for Retained Earnings, leave the cell blank. Not all cells will require entry.