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Current Attempt in Progress Whispering Winds Corporation issued $460,000,7%, 20-year bonds on January 1, 2022 for $414,837. This price resulted in an effective-interest rate of

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Current Attempt in Progress Whispering Winds Corporation issued $460,000,7%, 20-year bonds on January 1, 2022 for $414,837. This price resulted in an effective-interest rate of 8% on the bonds. Interest is payable annually on January 1. Whispering Winds uses the effective interest method to amortize bond premium or discount Prepare the schedule using effective interest method to amortize bond premium or discount of Whispering Winds. (Round answers to decimal places, eg. 5,275.) Interest to Be Pald Interest Expense to Be Recorded Discount Amortization Unamor Disco Interest Periods Issue date s $ $ 1 2 e Textbook and Media List of Accounts Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Credit Debit Account Titles and Explanation Date Jan. 1. 2022 e Textbook and Media List of Accounts Prepare the journal entry to record the accrual of interest and the discount amortization on December 31, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Dec 31. 2022 e Textbook and Media List of Accounts Prepare the journal entry to record the payment of interest on January 1, 2023. (Credit account ttles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date Jan. 1. 2023 e Textbook and Media List of Accounts

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