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Solving the blanks Cyber Tech Ince produces and distributes fiber optic cable for use by telecommunications companies, Cyber Tech inc, issued 553,750,000 of 10 -year,
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Cyber Tech Ince produces and distributes fiber optic cable for use by telecommunications companies, Cyber Tech inc, issued 553,750,000 of 10 -year, 7% bonds on March 1 at theic face amount, with Interest payable ori March 1. and September 1. The fiscal year of the company is the calendar year: Tllustrate the effects on the accounts and financial statements of recording the following selected transactions for the current year. If no account or activity is affected, select "No effect" from the dropdown list and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts. Round your answers to the nearest dollar. Mar. 1. tssued the bonds for cash at their face amount. Sept. 1. Paid the interest on the bonds. Dec. 31. Recorded accrued interest for four months Step by Step Solution
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