Question 5 On August 1, 2017, Whispering Winds Corp. issued $499,200, 6%, 10-year bonds at face value. Interest is payable annually on August 1. Whispering Winds's year-end is December 31 Your answer is correct. Prepare journal entry to record the issuance of the bonds. (Credit account titles are automatically Indented when amount is entered. Do not Indent manually.) Date Account Titles and Explanation Debit Credit Aug. 1 Cash 499200 Bonds Payable 499200 SHOW LIST OF ACCOUNTS LINK TO TEXT VIDEO: APPLIED SKILLS VIDEO: SIMILAR EXERCISE Your answer is partially correct. Try again Prepare journal entry to record the accrual of interest on December 31, 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 Premium on Bonds Payable 14560 Discount on Bonds Payable 14560 Your answer is partially correct. Try again Prepare journal entry to record the payment of interest on August 1, 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Aug. 1 Premium on Bonds Payable 20384 Discount on Bonds Payable 14560 Cash 34944