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CALCULATOR FULL SCREEN PRINTER VERSION BACK Problem 10-07A The following information is taken from Wildhorse Corp's balance sheet at December 31, 2021. $ 94,800 Current
CALCULATOR FULL SCREEN PRINTER VERSION BACK Problem 10-07A The following information is taken from Wildhorse Corp's balance sheet at December 31, 2021. $ 94,800 Current liabilities Interest payable Long-term liabilities Bonds payable (4%, due January 1, 2032) Less: Discount on bonds payable $2,370,000 23,700 2,346,300 Interest is payable annually on January 1. The bonds are callable on any annual Interest date. Wildhorse uses straight line amortization for any bond premium or discount From December 31, 2021. the bonds will be outstanding for an additional 10 years (120 months) (a) (b) (e) Journalize the payment of bond interest on January 1, 2022 Prepare the entry to amortize bond discount and to accrue the interest on December 31, 2022 Assume on January 1, 2023, after paying interest, that Wildhorse Corp. calls bonds having a face value of $474,000. The call price is 102. Record the redemption of the bonds Prepare the adjusting entry at December 31, 2023, to amortize bond discount and to accrue interest on the remaining bonds (d) (Credit account titles are automatically indented when amount is entered. Do not indent manually) No Date Account Titles and Explanation Debit Credit (a) Jan. 1 2022 (6) Dec 31 2022
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