Required information [The following information applies to the questions displayed below.] Doyle Company issued $350,000 of 10-year, 8 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 $54,500 of cash revenue, which was collected on December 31 of each year. beginning December 31, Year 1. Required 4 a. Organize the transaction data in accounts under the accounting equation for Year 1 and Year 2. (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.) DOYLE COMPANY Effect of Events on the Accounting Equation Year 1 and Year 2 Stockholders' Assets Liabilities + Equity Account Titles for Event Cash + Land Bonds Payable + Retained Earnings Retained Earnings Year 1 1/1 350,000+ 350,000 will ranura Anons I Required information DOYLE COMPANY Effect of Events on the Accounting Equation Year 1 and Year 2 Assets =Liabilities + Event Stockholders' Equity Account Titles for Cash + Land Bonds Payable Retained Retained Earnings + Earnings Year 1 1/1 350,000 + 1/1 12/31 12/31 Bal. + + + 350,000 350,000 ++ + 350,000+ 350,000 350,000 + Year 2 Beg. bal 12/31 12/31 End. bal. + ++++ 0+ 0