On July 1, 2024, Wildhorse Corp. issued $4.24 million of 10-year, 5% bonds at $4,586,650. This price resulted in a 4% market interest rate on the bonds. The bonds pay semi-annual interest on July 1 and January 1, and Wildhorse has a December 31 year end. (a) Your answer is correct. Record the issue of the bonds on July 1, 2024. (List debit entry before credit entry. 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 July 1, 2024 Cash Bonds Payable Debit 4,586,650 Credit 4,586,650 WILDHORSE CORP. Bond Premium Amortization Table Effective Interest Method-Semi-Annual Interest Payments 5% Bonds Issued at market rate of 4% Date Interest Payment Interest Expense Premium Amortization July 1, 2024 Bond Carrying A $ 4: Jan. 1, 2025 106,000 91,733 14,267 4,5 July 1, 2025 106,000 91,448 14,552 4,5 Jan. 1, 2026 106,000 91,157 14,843 4,5 July 1, 2026 106,000 90,860 15,140 4,5 Jan. 1, 2027 106,000 90,557 15,443 4,5 July 1, 2027 106,000 90,248 15,752 4,4 Jan. 1, 2028 106,000 89,933 16,067 4,4 July 1, 2028 106,000 89,612 16,388 4,4 on Bond Carrying Amount 57 7 $ 4586650 4,572,383 2 4,557,831 +3 4,542,987 0 4,527,847 3 4,512,404 2 4,496,652 57 | 3= 4,480,585 4,464,197 Record the accrual of interest and the interest payments for the first three years of the bonds. (List all debit entries before credit entries. Round answers to O decimal places, e.g. 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. Record journal entries in the order presented in the problem.) Date Dec. 31, 2024 Jan. 1, 2025 July 1, 2025 Account Titles Debit Credi Dec. 31, 2025 Jan. 1, 2026 July 1, 2026 Dec. 31, 2026