Sikes Corporation, whose annual accounting period ends on December 31, issued the following bonds:

Date of bonds: January 1, 2012

Maturity amount and date: $200,000 due in 10 years (December 31, 2021)

Interest: 10 percent per year payable each December 31

Date issued: January 1, 2012

Required:

1.	Provide the following amounts to be reported on the January 1, 2012, financial statements immediately after the bonds are issued; TIP: See Exhibit 10.5 for an illustration distinguishing Bonds Payable from their carrying value.

January 1, 2012- Financial Statement Case A (issued at 100) Case B (issued at 96) Case C (issued at 102)

a. Bonds Payable

b. Discount

c. Carrying Value