Question
! Required information [The following information applies to the questions displayed below.] Kaye Co. issued $5 million face amount of 4.75%, 25-year bonds on
! Required information [The following information applies to the questions displayed below.] Kaye Co. issued $5 million face amount of 4.75%, 25-year bonds on April 1, 2013. The bonds pay interest on an annual basis on March 31 each year. b-1. Independent of your answer to part (a), assume that the proceeds were $5,071,000. Use the horizontal model to show the effect of issuing the bonds. (Enter decreases to account balances with a minus sign.) Assets Cash +5071000 Balance Sheet Liabilities Cash +5071000 Stockholders' Equity Net income + + ||| || || | || Income Statement Revenues Expenses
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