section B

Wildhorse Company issued $700,000,10%,10-year bonds on December 31,2021 , for $630,000, Interest is payable annually on December 31. Wildhorse Company uses thestraight-fine method to amortize bond premium or discount. (a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are outomatically indented when amount is entered. Do not indent manualiy) Prepare the journal entry to record the payment of interest and the discount amortization on December 31, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)