[The following information applies to the questions displayed below.] Doyle Company issued $246,000 of 10-year, 7 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 $53,500 of cash revenue, which was collected on December 31 of each year, beginning December 31, Year 1. Required a. Prepare the journal entries for these events, and post them to T-accounts for Year 1 and Year 2. PLEASE HELP: I don't know what to do with this? The T-accounts are confusing. For Requirement A2: there is a drop down menu o the first and last cell of every row with the options "12/31", "1/1" and "cl" for closing entry. FOR EXAMPLE:

\begin{tabular}{|c|c|c|c|} \hline \multicolumn{3}{|c|}{ Bonds Payable } \\ \hline Year 1 & & & \\ \hline & & 246,000 & 1/1 \\ \hline & & & \\ \hline 1/1 & & 246,000 & \\ \hline 12/31 & & & \\ \hline \hline cl & & & \\ \hline 1/1 & -ease Revenue & \\ \hline & & & 1/1 \\ \hline \end{tabular} Complete this question by entering your answers in the tabs below. Prepare the journal entries 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.) Answer is not complete. Complete this question by entering your answers in the tabs below. Post the entries to T-accounts for Year 1 and Year 2. (Select "cl" for all the closing entries.)