Question 6 of 6 0.63 / 2.5 View Policies Show Attempt History Current Attempt in Progress On January 1, 2020, Wildhorse Company sold 11% bonds having a maturity value of $700,000 for $726,535, which provides the bondholders with a 10% yield. The bonds are dated January 1, 2020, and mature January 1, 2025, with interest payable December 31 of each year. Wildhorse Company allocates interest and unamortized discount or premium on the effective interest basis. (a) Your answer is correct. Prepare the journal entry at the date of the bond issuance. (Round answer to 0 decimal places, eg. 38,548. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit January Cash 726,535 1, 2020 Bonds Payable 700,000 Premium on Bonds Payable 26535 e Textbook and Media (b) Prepare a schedule of interest expense and bond amortization for 2020-2022. (Round answer to 0 decimal places, e.g. 38,548.) Schedule of Interest Expense and Bond Premium Amortization Effective-Interest Method Interest Premium Expense Amortized Cash Paid Carry Amount Date 1/1/20 $ $ $ $ 12/31/20 12/31/21 12/31/22 e Textbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit