Question
On January 1, 2021, WYR_Wildcats Inc. issued $900,000 of 16% bonds dated January 1. 1. Interest of $72,000 is payable semiannually on June 30 and
On January 1, 2021, WYR_Wildcats Inc. issued $900,000 of 16% bonds dated January 1. 1. Interest of $72,000 is payable semiannually on June 30 and December 31. 2. The bonds mature in three years. 3. The market yield for bonds of similar risk and maturity is 8%.
Required (Please put Dr in front of your debits and Cr in front of your credits) : \
Question 1 (1 point) What will the bonds be sold for?
Question 2 (2 points) Prepare the journal entry to record the issuance of the bonds for WYR_Wildcats.
Question 3 (3 points) Prepare the Journal entry for the second interest payment paid on December 31, 2021.
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