In each of the following independent cases, the company closes its books on December 31.

Whispering Co. sells $532,000 of 8% bonds on March 1, 2020. The bonds pay interest on September 1 and March 1. The due date of the bonds is September 1, 2023. The bonds yield 12%. Give entries through December 31, 2021. Prepare all of the relevant journal entries from the time of sale until December 31, 2021. (Assume that no reversing entries were made.) (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answers to 0 decimal places e.g. 58,971. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Effective-Interest Method Bonds Sold to Yield Cash Paid Interest Expense Discount Amortized Carrying Amount of Bonds i $ i $ i $ 472603 21280 28356 7076 479680 21280 28781 7501 487180 21280 29231 7951 495131 21280 29708 8428 503559 21280 30214 8934 512493 21280 30750 9470 521962 21280 31318 10038 532000 Date Account Titles and Explanation Debit Credit 3/1/20 Cash Discount on Bonds Payable 59397 Bonds Payable 5320 9/1/20