1)On January 1, 2017,WindsorInc. issued $400,000of6%, 5-year bonds at par. Interest is payable semiannually on July 1 and January 1.

Prepare journal entries to record the following.

(a)The issuance of the bonds.(b)The payment of interest on July 1.(c)The accrual of interest on December 31.

2)On April 1, 2017,WildhorseCompany issued $940,000of12%, 10-year bonds dated January 1 at par plus accrued interest. Interest is payable semiannually on July 1 and January 1.

Prepare journal entries to record the following.

(a)The issuance of the bonds.(b)The payment of interest on July 1.(c)The accrual of interest on December 31.

Presented below are two independent situations. On January 1. 2017. Windsor Inc. issued $400.000 of 6%. 5-year bonds at par. Interest is payable semiannually on July 1 and January 1. Prepare journal entries to record the following. (Credit account titles are automatically Indented when the amount is entered. Do not indent manually It no entry is required, select "No Entry" for the account titles and enter Q for the amounts. Record journal entries in the order presented in the problem (a] The issuance of the bonds. (b) The payment of interest on July 1. (c) The accrual of interest on December 31. Date Account Titles and Explanation Debit Credit (a) (b) (c) On April 1, 2017. Wildhorse Company issued $940.000 of 12%%, 10-year bonds dated January 1 at par plus accrued interest. Interest is payable semiannually on July 1 and January 1. Prepare journal entries to record the following. (Credit account titles are automatically indented when the amount is entered. Do not indent manually If no entry is required, select "No Entry" for the account tides and enter O for the amounts. Record journal entries in the order presented in the problem) (a] The issuance of the bonds. (b) The payment of interest on July 1. (c) The accrual of interest on December 31. Date Account Titles and Explanation Debit Credit (a) (b) (c)