Current Attempt in Progress On January 1, 2021, Wildhorse Ltd. issued bonds with a maturity value of $8,600,000 when the market rate of interest was 4%. The bonds have a coupon (contractual) interest rate of 5% and mature on January 1, 2031. Interest on the bonds is payable semi- annually on July 1 and January 1 of each year. The company's year end is December 31. Click here to view the factor table. Present Value of 1 Click here to view the factor table. Present Value of an Annuity of 1 Your answer is correct. Calculate the issue price of the bonds. (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round final answer to O decimal places, e-g. 5,275.) Calculate the issue price of the bonds. (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round final answer to 0 decimal places, eg. 5,275.) Issue Price $ 9303100 e Textbook and Media List of Accounts Your answer is correct. Erecuve merest Mousemaar merest Payments 5% Bonds Issued at market rate of 4% erest Payment Interest Expense Premium Amortization Bond Amortized Cost i $ $ $ 9303100 215,000 186067 28933 9274162 215,000 185488 29512 9244645 215,000 184898 30102 9214538 28933 9274162 215,000 186067 215,000 185488 29512 9244645 215,000 184898 30102 9214538 215,000 184296 30704 9183829 e Textbook and Media List of Accounts atles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1 Cash 9303100 Bonds Payable 860000 (To record issuance of bonds.) July 1 Interest Expense 186062 Bonds Payable 28938 Date Account Titles and Explanation Debit Credit Jan 1 Cash 9303100 Bonds Payable 860000 (To record issuance of bonds.) July 1 Interest Expense 186062 Bonds Payable 28938 Cash 215000 (To record interest payment) Dec. 31 Interest Expense 185483 Bands Payable 29517 Interest Pavable 215000 (To record interest payment.) 1 185483 Interest Expense Bonds Payable 29517 215000 Interest Payable (To accrue interest expense.) What amounts would be reported as current and non-current in the liabilities section of Wildhorse Ltd's December 31, 2021, balance sheet? (Round answers to 0 decimal places, eg, 5,275.) WILDHORSE LTD. Balance Sheet (Partial) December 31, 2021 Current Liabilities $ 215,000 Interest Payable Non-Current Liabilities 9244645 Bonds Payable Assume instead that the bonds were not redeemed on January 1, 2023. Record the entry for the repayment of the bonds on January 1, 2031. (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 O for the amounts.) Debit Credit Date Account Titles and Explanation Jan. 1 Bonds Payable Cash (To record maturity of bond.) Record the payment of interest on January 1, 2022. (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 O for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1 Interest Payable Cash (To record interest payment.) e Textbook and Media The bonds were redeemed on January 1, 2023 (after the interest had been paid and recorded) at 102. Prepare the journal entry for the redemption of the bonds. (Round answers to 0 decimal places, eg. 5,275. 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 O for the amounts.) Debit Credit Date Account Titles and Explanation Jan. 1 Bonds Payable Cash Gain on Bond Redemption To record redemption of bonds.)