On January 1, 2020, Wildhorse Corporation issued 11% bonds with a par value of $5,170,000, due in 10 years. The company incurred $195,000 in costs associated with the issuance of the bonds, which were capitalized. The bonds were issued at 102, and paid interest on January 1 and July 1 each year. Wildhorses year-end was March 31. The company followed ASPE and chose to use the straight-line method of amortization for bond discounts or premiums.

Current Attempt in Progress On January 1, 2020, Wildhorse Corporation issued 11% bonds with a par value of $5,170,000, due in 10 years. The company incurred $195,000 in costs associated with the issuance of the bonds, which were capitalized. The bonds were issued at 102, and paid interest on January 1 and July 1 each year. Wildhorse's year-end was March 31. The company followed ASPE and chose to use the straight-line method of amortization for bond discounts or premiums. Your answer is partially correct. Prepare the journal entry to record the issue of the bonds. (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 for the amounts.) Date Account Titles and Explanation Debit Credit Jan. Cash 4923300 1 Bonds Payable 4923300 e Textbook and Media Assistance Used Your answer is partially correct. Prepare the entries required on March 31, 2020 to accrue interest and record any amortization required. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit Account Titles and Explanation Interest Expense Bonds Payable Interest Payable e Textbook and Media