1. Prepare all the necessary journal entries to record the issuance of the bonds and bond interest expense for 2022, assuming that the bonds sold at 104.

2. Prepare the journal entry to record bad debt expense

3. Compute the accounts receivable turnover and average collection period, assuming the expected uncollectibles information provided

Wildhorse Co. sold $3,600,000, 6%, 10-year bonds on January 1, 2022. The bonds were dated January 1 and pay interest annually on January 1. Wildhorse Co. uses the straight-line method to amortize bond premium or discount. The bonds were sold at 103. (a) Prepare the journal entry to record the issuance of the bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1, 2022