Why isnt equity and net income affected when you pay off a bond? And what accounts are affected when you issue a bond and get proceeds?

Bond Retirement At the maturity date of the bond, the presentation on the financial statements is easy. Regardless of whether the bond was issued at a premium or a discount, the premium or discount will be fully amortized by the maturity date. That is, the balance will be zero Therefore, regardless of whether the bond was issued at par, a premium or a discount, the financial statements at maturity of the bond will be affected as follows: Bonds Payable x Cash xxX so assets are going down (because cash is being paid), liabiliti no effect on equity or net income. es are going down (because the bonds are being paid off), and there will be cina