Return to the WPPSS bond in Exhibit 15-1. Assume that WPPSS issued the bond payable on July 1, 2000, at a price of 92. Also assume that WPPSS's accounting year ends on December 31. Journalize the following transactions for WPPSS. Include an explanation for each entry.

a. Issuance of the bonds on July 1, 2000.

b. Accrual of interest expense and amortization of bond discount on December 31, 2000. (Use the straight-line amortization method, and round the interest amount to the near- est dollar.)

c. Payment of the first semiannual interest amount on January 1. 2001. DE15-10 Use the situation in Daily Exercise 15-9, and show how WPPSS would report interest payable and the bond payable on its balance sheet at December 31, 2000.