Assuming Whispering Winds applies ASPE and has chosen to use the straight$-$line method of amortization, determine the amount

of discount that is amortized each year. $($Round answer to $2$ decimal places, e$.$g$.52\mathrm{.}75.)$

Straight$-$line discount amortization

eTextbook and Media

List of Accounts

Attempts: unlimited

Under the above assumption, prepare journal entries to record the initial investment, receipt of interest, and recognition of

interest income in each of the three years, and the maturity of the bond at the end of the third year. $($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 titles

and enter $0$ for the amounts. List all debit entries before credit entries. Round answers to $2$ decimal places, e$.$g$.52\mathrm{.}75.)$