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On January 1, Year 1, Bell Corporation issued $399,000 of 10-year, 8 percent bonds at their face amount. Interest is payable on December 31 of each year with the first payment due December 31, Year 1 . Required Prepare all the general journal entries related to these bonds for Year 1 and Year 2 . (If no entry is required for a transaction/event. select "No journal entry required" in the first account field.) 1 Record the issue of bonds payable. 2 Record the interest expense for bonds payable for Year 1. 3 Record the interest expense for bonds payable for Year 2 . Diaz Company issued bonds with a face value of $129,000 on January 1. Year 1. The bonds had a stated interest rate of 5 percent and a 10-year term, Interest is paid in cash annually, beginning December 31 , Year 1 . The bonds were issued at 98 . The straight-fine method is used for amortization. Required a. Use a financial statements model to demonstrate how (1) the January 1, Year 1, bond issue and (2) the December 31. Year 1 , recognition of interest expense, including the amortization of the discount and the cash payment, affect the company's financial statements. b. Determine the carrying value (face value less discount or plus premium) of the bond liability as of December 31 , Year 1 c. Determine the amount of interest expense reported on the Year 1 income statement. d. Determine the carrying value (face value less discount or plus premium) of the bond liability as of December 31 , Year 2 . e. Determine the amount of interest expense reported on the Yoar 2 income statement Complete this question by entering your answers in the tabs below. Use a financial statements model to demonstrate how (1) the danuary 1, Year 1, bond issue and (2) the December 31, Year 1, recognition including the amortization of the discrunt and the cash payment, affect the company's financial statements. (Use + for increase or - for o Cosh Flows column, ube the initals QA to designate operating activity, IA for inverting activity, and FA for financing activity, Not all celis r Alfonza Incorporated presents its statement of cash flows using the indirect method. The following accounts and corresponding balances were drawn from the company's Year 2 and Year 1 year-end balance sheets. The Year 2 income statement showed net income of $31,600. Required a. Prepare the operating activities section of the statement of cash flows. (Amounts to be deducted should be indicated with a minus sign.)