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

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Accounting

Sikes Corporation, whose annual accounting period ends on December 31, issued the following bonds:
Date of bonds: January 1,2021
Maturity amount and date: $300,000 due in 10 years (December 31,2030)
Interest: 10 percent per year payable each December 31
Date issued: January 1,2021
Required:
For each of the three independent cases that follow, provide the amounts to be reported on the January 1,2021, financial statements immediately after the bonds are issued. TIP: See Exhibit 10.6 for an illustration distinguishing Bonds Payable from their carrying value. (Deductions should be indicated by a minus sign.)

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